Shell Russia News

New England States Buy Offshore Wind Power as US Industry Struggles

Oct 04, 2023

Three U.S. states in New England - Massachusetts, Rhode Island and Connecticut - on Wednesday agreed to jointly procure offshore wind power as soaring interest rates and rising equipment and labor costs have made some projects uneconomic.By joining forces…

India's ONGC Willing to Wait to Regain Oil from Russian Project

Sep 20, 2023

India's state-run Oil and Natural Gas Corp wants to eventually receive a share of crude from a Russian project it partly owns, but is willing to wait because Russian oil is hard to ship right now, the head of ONGC's overseas investment arm, ONGC Videsh…

Nauticus Robotics Secures $20M Loan Deal with Key Stakeholders

Sep 21, 2023

Nauticus Robotics, a developer of ocean robots and artificial intelligence for autonomous services to the offshore industries, said Thursday it had entered into a senior secured term loan agreement with existing stakeholders, Transocean, ATW Partners…

Rystad Says Oil Demand is Peaking. Predicts $60 a Barrel by 2027

Oct 06, 2023

Global crude oil prices could drop to about $60 per barrel by 2027 as demand growth slows, say oil analysts at Rystad Energy, chopping a third off next year's peak price as demand tumbles.Their outlook is a reassuring message amid recent Wall…

South Africa Gives go-ahead for TotalEnergies to Drill Offshore

Oct 03, 2023

South Africa's environment ministry has given the go-ahead for TotalEnergies TTEF.PA to drill offshore for gas and oil, after rejecting an appeal from more than a dozen individuals and lobby groups who intend challenging the decision.The appeal…

Shell Greenlights Development of Trinidad's Manatee Offshore Gas Field

Sep 15, 2023

Shell has given financial approval for the development of the massive Manatee gas field offshore Trinidad and Tobago, the country's Prime Minister Keith Rowley said on Thursday.Trinidad is Latin America's largest LNG exporter, but its flagship…

Talks Extended: Cyprus and Chevron Aim to Reach Deal on Aphrodite Gas Field Next Month

Oct 02, 2023

Cyprus and international energy companies led by Chevron have agreed to extend talks on how to develop its Aphrodite offshore gas field amid progress in negotiations, its energy minister said on Friday.'It is not a new negotiating round, it's…

Exxon Mobil Finds Buyer for Adriatic LNG Terminal Stake

Oct 04, 2023

Exxon Mobil Corp chose BlackRock as the potential buyer for its majority stake in Italy's main liquefied natural gas (LNG) import terminal, the U.S. oil producer said in a statement.The stake sale drew interest from infrastructure funds and…

Ithaca Energy to Take Full Control of Cambo, UK North Sea's Second Largest Undeveloped Oil and Gas Discovery

Sep 12, 2023

Ithaca Energy has agreed to acquire the remaining 30% stake in Cambo from Shell, taking Ithaca Energy’s stake in Cambo to 100%.To remind, Ithaca Energy said in May it had agreed to market Shell's 30% stake in the Cambo oil prospect in the UK North Sea…

Egypt Awards Oil and Gas Exploration Blocks to Eni, BP, QatarEnergy, and Zarubezhneft

Sep 26, 2023

Italy's Eni was the big winner in an Egyptian auction for oil and gas exploration rights on Tuesday, securing concessions for two of the four blocks outright, according to results from the petroleum ministry. The company also won a third block with BP and QatarEnergy in the Mediterranean Sea…

Vietnam Faces Years-Long Delays for Gas Production in South China Sea as Exxon Mobil and Gazprom Projects Stalled

Oct 06, 2023

Vietnam expects further years-long delays before offshore blocks being developed by U.S. major Exxon Mobil and Russia's Gazprom will be producing gas, according to a draft government document seen by Reuters.The new timeline casts fresh doubts…

Japan Responds to Fresh Sanctions on Arctic LNG 2

Sep 19, 2023

Japan will ensure stable and steady energy supply to the country even after the U.S. imposed fresh sanctions related to Russia's Arctic LNG 2 project, Japan's Chief Cabinet Secretary Hirokazu Matsuno said on Tuesday.The Arctic LNG 2 project…

Biden Angers All Sides with Scaled Back Offshore Oil Drilling Plan

Oct 02, 2023

The Biden administration's plan to slash offshore oil and gas leasing drew fire from both the fossil fuel industry and environmentalists on Friday, with energy companies saying it will raise fuel prices and greens saying it undermines efforts to stop global warming…

Unite's Petrofac Members Prepare for Strike on Ithaca Energy's Offshore Platforms

Sep 19, 2023

The UK-based union Unite said Tuesday that around 85 offshore workers employed by Petrofac Facilities Management Limited are set to take strike action over six days on installations operated by Ithaca Energy.According to Unite, the dispute centers on Ithaca Energy’s fourteen-day 'clawback' policy…

Ukraine Retakes Offshore Drilling Platforms near Crimea

Sep 11, 2023

Ukrainian forces have regained control from Russia of several gas and oil offshore drilling platforms close to Crimea, Ukraine's military intelligence (GUR) said on Monday.It said on the Telegram messaging app that Kyiv's forces had retaken…

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