Court Documents Unveil $1 Billion Annual Revenue of Shell's Oil Trading Business in US

Apr 29, 2024 06:59 am UTC| Business

In a revealing turn of events, court documents from a lawsuit have shed light on the exorbitant earnings of Shells U.S. crude trading business, marked by annual revenues hovering around the $1 billion mark. This insight comes f...

Shell and Saudi Aramco Eye Pavilion Energy in Multi-Billion Dollar Bid

Apr 08, 2024 02:30 am UTC| Business

In a significant move within the energy sector, Shell and Saudi Aramco have entered advanced price negotiations to acquire the assets of Pavilion Energy, an LNG (liquefied natural gas) trading company owned by Temasek. Accordin...

Shell Shifts Gear: 1,000 Gas Stations to Close for EV Charging Expansion

Mar 20, 2024 03:03 am UTC| Technology Business

In a bold move towards sustainability, Shell announced plans to shutter up to 1,000 gas stations globally by 2025 to pave the way for an extensive electric vehicle (EV) charging network. Aiming to increase its charging points t...

Singapore Partners with ExxonMobil and Shell for Cross-Border CCS Project

Mar 01, 2024 08:58 am UTC| Business

The Singapore government is teaming up with a consortium led by ExxonMobil and Shell to explore the feasibility of a cross-border carbon capture and storage (CCS) project. Second Minister for Trade and Industry, Tan See Leng, a...

Shell's Exit from Nigeria's Onshore Oil Sector Raises Concerns and Opportunities

Jan 29, 2024 08:56 am UTC| Business

Shells recent departure from Nigerias onshore oil sector highlights the risks oil majors face in Africas largest exporter. The Niger Delta region, plagued by pollution, oil theft, and pipeline vandalism, has long hindered inves...

Shell Ends Operations in Nigeria, Sells Onshore Oil Business for Over $1.3B

Jan 17, 2024 06:02 am UTC| Business

Shell plc, a London-headquartered oil and gas company, is ending its oil production in Nigeria after almost a century of operations. As it exits, it will sell its subsidiary to a consortium of five companies primarily based in ...

Shell to Cut 15% of Low-Carbon Solutions Division Amid Strategic Pivot, Affects 200 Jobs

Oct 26, 2023 07:07 am UTC| Business Investing

Shell announced on Wednesday that it will reduce its workforce by approximately 15% in the low-carbon solutions division. This move comes as part of CEO Wael Sawans initiative to drive profitability within the company. A Reu...

Hanwha, Shell Join Expansive Malaysia-Based CCS Shepherd Project by SK Innovation

Aug 11, 2023 08:49 am UTC| Economy Investing Business

Hanwha Corp. and Shell Gas Power Developments B.V. has joined Malaysias burgeoning Shepherd Carbon Capture and Storage (CCS) project. Spearheaded by SK Innovation, this initiative consolidates CO₂ from South Korean industries ...

Indonesia's Bid to Double Gas Output by 2030 Bolstered by Shell, Chevron Exits

Aug 11, 2023 08:32 am UTC| Economy Investing Business

With Shell and Chevron departing from two pivotal gas projects, Indonesia is poised to revitalize its flagging gas sector, aiming to double production by 2030, despite looming climate and financial challenges. The Masela and...

Shell, Eneco-led CrossWind Consortium Powers Dutch Mainland With Offshore Wind Energy; Pledges 3.3 TWh per Year

Jun 20, 2023 07:24 am UTC| Economy Business Nature

The CrossWind consortium, including Shell and Eneco, has successfully delivered electricity to the Dutch mainland via the Hollandse Kust Noord project, which is expected to generate 3.3 TWh annually by year-end. This substantia...

Shell Joins Consortium Developing Danish Energy Island

May 07, 2023 23:12 pm UTC| Nature Economy Business

Shell Plc has joined the consortium developing the first energy island project in the Danish North Sea that would deliver power from 10 GW of offshore wind turbines to Denmark and nearby countries. The Copenhagen Infrastruct...

Shell, GIG collaborate on building 200-MW/400-MWh Victoria battery energy storage

Mar 31, 2023 23:51 pm UTC| Business Economy Nature

Shell Energy Operations and Macquarie Asset Managements Green Investment Group (GIG) are collaborating on a 200-MW/400-MWh battery energy storage project in Victoria, Australia. Australia-based Perfection Private has joined ...

Shell acquires Volta EV charging company for $169M

Jan 20, 2023 07:01 am UTC| Business Economy

Shell USA Inc. has acquired Volta Inc., and this was confirmed by the latter on Wednesday, Jan. 18. The leading electric vehicle charging and media company based in San Francisco, California, said it had signed a definitive mer...

Korean Air inks 5-year deal to buy sustainable aviation fuel from Shell

Sep 30, 2022 23:53 pm UTC| Business Economy

Korean Air Lines Co. has signed a five-year deal to purchase sustainable aviation fuel (SAF) from the British firm Royal Dutch Shell plc. beginning in 2026 to help combat climate change. According to Korean Air, it will rece...

Shell to put up Adidas, Starbucks, McDonald’s, Jollibee stores at Philippine gas stations

Sep 20, 2022 23:17 pm UTC| Life Economy Business

Pilipinas Shell Petroleum Corp. plans to put up retail shops and restaurants such as Jollibee, McDonalds, Starbucks, and Adidas in 550 of its 1,300 to 1,400 gasoline refilling stations by 2025. The move could drive non-fuel...