Royal Dutch Shell has dropped one of Norway's biggest and most innovative industrial projects due to rising costs and complexity, dealing a blow to a technology that some hope could revolutionise offshore production.
Royal Dutch Shell plans to put three oil and gas assets in the North Sea up for sale, as it seeks to ramp up disposals and focus on improving shareholder returns after a shock profit warning.
Like its industry peers, Shell has bee
Royal Dutch Shell issued a "significant" profit warning on Friday, detailing across-the-board problems and the extent of the challenges facing the oil major's new boss Ben van Beurden, who took over two weeks ago.
Royal Dutch Shell could look to sell $15 billion worth of assets over the next two years including some North Sea fields, said a media report on Tuesday, expanding on its existing guidance that divestments would accelerate this year.
Royal Dutch Shell's 23.1 per cent stake in Australian oil and gas group Woodside Petroleum is seen as more likely to be split up and/or sold to institutional shareholders than to go in one piece to a strategic buyer, bankers said.
Iraq's Majnoon oilfield, operated by Royal Dutch Shell, is expected to hit output above 200,000 barrels per day (bpd) in the third quarter of 2013 - above the level needed to start recovering costs, Shell's programme for Majnoon said.
Royal Dutch Shell beat forecasts with an 11 per cent rise in fourth-quarter profit, as higher oil prices outweighed the impact of lower US gas prices.
Europe's largest oil company by market capitalisati
Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because European Union and US financial sanctions now make it almost impossible to process payments, industry sources said.
Royal Dutch Shell is to cease operations in Syria because of ongoing unrest there and in line with EU sanctions, the oil giant said, while France's Total said it was staying on.
'Shell will cease its activities in compliance with s
Qatar Petroleum International and Royal Dutch Shell have signed a framework deal with China National Petroleum Corp (CNPC) to build a joint refining and petrochemical complex in China.
The agreement is a step forward for the major project