Shell

Eni and Shell to stand trial in Italy over Nigeria kickback scandal

Milan - AFP

Italian giant Eni and fellow petroleum company Shell will stand trial in Italy over allegations of bribery and corruption in the 2011 purchase of an offshore oil block in Nigeria. A judge in Milan ordered Eni, Shell and key figures such as Eni chief Claudio Descalzi and his predecessor Paolo Scaroni to stand trial in proceedings to begin March 5. The companies are accusedRead more

Brazil pre-salt oil auction fetches $1.9 billion

Rio de Janeiro - Muslimchronicle

Brazil's auction of deep water, pre-salt oil blocks on Friday raked in 6.15 billion reais ($1.9 billion) in Rio de Janeiro. The signing bonuses fell beneath the government's goal of 7.15 billion reais, with two of the eight blocks not selling. However, the state also secured hefty production sharing deals from consortiums including Shell, Exxon and Statoil. Source:AFPRead more

Shell to invest $1billion in Mexico

Washington - AFP

Royal Dutch Shell (LSE: 0LN9.L - news) said Wednesday it would invest $1 billion in Mexico over the next decade, after the oil giant opened its first retail gas station in the country. The investment in the world's fifth-biggest consumer of gasoline depends on market conditions continuing to develop at their current rates, said Shell (LSE: RDSB.L - news) executiveRead more

Europe's biggest refinery back on line after blaze

The Hague - AFP

Europe's biggest oil refinery has resumed operations after most of its electricity supply was restored following a devastating fire more than three weeks ago, Shell said on Thursday. "Repairs to the electricity supply at Shell Pernis have mainly been completed," the Anglo-Dutch oil giant said in a statement, adding "most of the factories in the plant have been restarted includingRead more

Protestors occupy Shell plant in Nigeria

Warri - AFP

Hundreds of protesters have occupied a Nigerian oil facility owned by Anglo-Dutch oil giant Shell, demanding that a local company take over its operations, a community leader said Saturday. "We want Shell to hand over the operations of the flow station to Belema Oil Company because it appreciates our challenges and needs," community leader Godson Egbelekro told AFP. Protesters fromRead more

Europe's biggest oil refinery shut for two more weeks

The Hague - AFP

Europe's biggest oil refinery will remain shut for another couple of weeks after a power station on the site was hit by a huge fire, oil giant Shell said Tuesday. It is hoped the Shell Pernis refinery in Rotterdam will be back up and running "at the earliest in the second half of August," a Shell spokesman told AFP. MostRead more

Shell sells gas business in Hong Kong and Macau

Hong Kong - Arab Today

Royal Dutch Shell on Wednesday announced the sale of its liquefied petroleum gas business in Hong Kong and Macau to the Irish group DCC Energy for US$150.3 million. "This sale supports Shell’s strategic commitment to focus downstream activities on areas where we can be most competitive," said the Shell downstream director John Abbott. "This is one of the last ofRead more

Shell sells Hong Kong, Macau energy assets

London - AFP

Royal Dutch Shell on Wednesday announced the sale of its liquefied petroleum gas business in Hong Kong and Macau to Irish group DCC Energy for US$150.3 million (141 million euros). "This sale supports Shell's strategic commitment to focus downstream activities on areas where we can be most competitive," said Shell Downstream Director John Abbott. "This is one of the lastRead more

Oil industry revives quest for deepwater reserves

Houston - Arab Today

Deepwater oil drilling can be expensive, time-consuming and a hard sell to investors. But the world’s top energy firms are restarting their search for giant oilfields under the ocean after a two-year lull. A recovery in oil prices to about $50 a barrel from a 12-year low in 2016 is reviving oil majors’ appetite for risk. Reductions in offshore productionRead more

Shell plans $300 mn investment in Argentina shale

Buenos Aires - AFP

Shell has confirmed it will invest $300 million to develop a shale oil and gas reserve in southern Argentina, executives said Friday. Argentina oil company YPF said in a statement it would partner with the Anglo-Dutch company Shell to exploit the huge Vaca Muerta reserve. Exploration of the field has yielded "excellent results," it quoted Shell Argentina boss Teofilo LacrozeRead more