Venture Global Inc., one of the largest U.S. exporters of liquefied natural gas, has prevailed over oil giant Shell Plc in an arbitration case over the sale of cargoes from its first export plant, capping a two-year fight.
Second-quarter financial reporting season is over and it has revealed two things. First, that Big Oil’s recovery from its energy transition experiment is still ongoing and that European supermajors have yet to catch up with their American sector players—on production and earnings alike.
“By forming a global alliance with Shell Catalysts & Technologies in the field of carbon capture, we combine cutting-edge technology, smart engineering, and excellence in project execution. This global alliance is the result of more than 10 years of collaboration and continuous innovation,” Arnaud Pieton, Chief Executive Officer of Technip Energies, added. “Our ambition is to deliver a world designed to last by enabling hard-to-abate industries to decarbonize with greater certainty and affordability.
“The board will benefit from his deep and broad experience of the global upstream and downstream energy industry and his financial and commercial understanding of global markets, together with his extensive and varied board experience”, Helge Lund, chair of BP, said.
Shell’s sprawling but secretive in-house trading business is often one of its biggest profit boosters, and Chief Executive Officer Wael Sawan said in March that its traders haven’t lost money in a single quarter over the past decade. Yet recent price swings have been hard to navigate, with crude whipsawed by US President Donald Trump’s trade war, OPEC+ policy and Israel’s attacks on Iran.
Equinor and Shell have unveiled Adura as the name of their new incorporated joint venture, set to become the UK North Sea’s largest independent oil and gas producer, the companies said on Thursday.
FTSE 100 oil heavyweights are back in analysts favour after oil prices surged from the intensifying Middle Eastern conflict.
BP and Shell shares have jumped around three per cent in the last week and climbed further as President Donald Trump weighed in on the attacks in Israel and Iran.
Developed by Shell, U-lateral drilling offers significant benefits for an industry where efficiency is more important than ever before. By enabling rigs to drill more reservoir footage per month, reducing both the cost per foot of reservoir accessed and the cost per barrel of oil produced, the U-lateral technique allows operators to reduce drilling costs and save time while effectively increasing the production capacity of each surface rig by 50%.
FourPhase, a solids and production performance specialist for the oil and gas sector, has announced a new agreement with Shell Trinidad and Tobago. The master service agreement (MSA) involves sand management and production optimization for Shell Trinidad & Tobago on its topside offshore oil and gas platforms in the Caribbean.
“We look forward to leveraging an optimized delivery model and driving targeted improvement initiatives during this contract period. As the main contractor, we are committed to enhancing new ways of working and improving performance and efficiency while delivering cost reductions across the value chain”, Paal Eikeseth, Executive Vice President and head of Aker Solutions’ Life Cycle Business, said.