SYDNEY: Australian Oil Company Limited (ASX: AOK) has signed binding agreements to acquire three petroleum leases and a pipeline license in Queensland’s Surat Basin, marking a strategic expansion into a region poised for increased gas demand. The assets, located near the town of Surat, include the producing Emu Apple Oil Field, the Riverslea Oil Field,…
Tag: SHELL
Ceres Power sees revenue dip but touts AI power demand and manufacturing milestones
Revenue for the six months to June 30 fell to £21.1 million ($27.3 million) from £28.5 million a year earlier LONDON: British clean energy technology firm Ceres Power Holdings plc (CWR.L) reported a 26% drop in first-half revenue on Friday, in line with expectations, but highlighted an “unprecedented” market opportunity driven by power-hungry AI data…
Shell Reports Second-Quarter 2025 Income Decline Amid Market Headwinds
Adjusted Earnings for the second quarter ended June 30, 2025 stood at $$4.26 billion compared with $6.29 billion last year LONDON: Shell PLC reported a decline in second-quarter 2025 income attributable to shareholders compared to the first quarter, citing weaker trading margins and lower realised prices for liquids and gas. Marketing margins rose during the…
Deltic Energy sells 25% stake in Selene Prospect to Dana Petroleum
LONDON, UK: Deltic Energy Plc, a natural resources investing company, has agreed to farm out a quarter of its interest in Licence P2437, containing the Selene Prospect, to Dana Petroleum. The deal will reduce Deltic’s exposure to the drilling and testing costs of the Selene well, which is expected to be drilled in Q3 2024….
Shell sells Nigerian onshore oil and gas business for $2.4 billion
After nearly 100 years of running Nigerian onshore oil and gas, Shell has decided to sell its subsidiary there for up to $2.4 billion to a group of five companies, mostly based in Nigeria. The buyer is the Renaissance consortium, which includes ND Western, Aradel Energy, First E&P, Waltersmith, all local oil exploration and production…
Shell sells UK and Germany home energy businesses to Octopus Energy
Shell has announced that it will sell its retail home energy businesses in the UK and Germany to Octopus Energy Group, a UK-based renewable energy supplier. The deal is part of a broader agreement to explore a potential partnership in electric vehicle charging. The sale, which is subject to regulatory approval, is expected to be…
Wood signs global framework agreement with Shell
LONDON, UK: Wood Group, a global consulting and engineering company, has been awarded a multi-year enterprise framework agreement (EFA) to continue to provide services to Shell’s global projects. Bringing specialist consulting, engineering, procurement and project management expertise to Shell’s greenfield and brownfield projects, the agreement will see Wood continue to support projects that ensure energy…
Shell announces Executive Committee and Board change
LONDON, UK: Shell plc announced the appointment of Sinead Gorman as chief financial officer (CFO), effective April 1, 2022. She will become a member of both Shell’s Executive Committee and Board of Directors. After a distinguished career of 17 years with Shell, the last five years as CFO, Jessica Uhl will step down from her…
Meridian agrees to sell Australian business for A$729mn
AUCKLAND; Meridian Energy’s Board has agreed the sale of Meridian’s Australian business to a consortium of Shell Energy Operations Pty Ltd and Infrastructure Capital Group (ICG) for A$729 million. On completion, Shell will become the owner of the retail business, Powershop Australia, while ICG will become the owner of the infrastructure assets (Mt Mercer and…
Shell announces absolute emissions reduction target of 50% by 2030
AMSTERDAM: Royal Dutch Shell announced an absolute emissions reduction target of 50% by 2030, compared to 2016 levels on a net basis. This covers all scope 1 and 2 emissions under Shell’s operational control and is another strategic milestone on our path to becoming a net-zero emissions energy business by 2050, in step with society….
Cairn Energy acquires development and exploration assets in Egypt
LONDON, UK: Cairn Energy, together with its consortium partner Cheiron Petroleum Corporation, announced completion of the acquisition of a portfolio of upstream oil and gas production, development and exploration interests from Shell Egypt NV and Shell Austria GmbH in the Western Desert, onshore The Arab Republic of Egypt. Capricorn Egypt, a wholly owned subsidiary of…
Shell, Uber and Muawin collaborate for innovative fuel management solutions
KARACHI, PAKISTAN: Shell Pakistan Limited collaborated with Uber and Muawin by Cashew Financial Services, to deliver a fuel management solution with unparalleled features to Uber partner drivers. Through this collaboration, Uber partner drivers will get access to fuel financing from Muawin by Cashew Financial Services, to fulfill their mobility needs at Shell. By means of tech-enabled…