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Share Price Information for Shell (SHEL)

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Share Price: 2,814.50
Bid: 2,812.50
Ask: 2,813.50
Change: 23.50 (0.84%)
Spread: 1.00 (0.036%)
Open: 2,797.50
High: 2,817.00
Low: 2,796.50
Prev. Close: 2,791.00
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Newcomer Elysian, Petrobras notch big wins in Brazil oil auction

Wed, 13th Dec 2023 23:16

RIO DE JANEIRO, Dec 13 (Reuters) - Oil companies including Elysian along with veterans Petrobras and Chevron snapped up the most blocks up for grabs in Brazil's latest offshore oil auction marked by climate protests, as the South American nation looks to replenish reserves with new discoveries.

Oil regulator ANP ran the tender that assigned 192 exploration and production areas out of more than 600 on offer, with newcomer Elysian winning 122 of them.

The government will receive nearly 500 million reais ($102 million) from the blocks auctioned, mostly from contracts for areas in the deep water Pelotas Basin along Brazil's southern coast.

State-run Petrobras secured 29 blocks in the deep water basin, all as operator with consortium partner Shell . In three of them, China's state-owned CNOOC also formed part of the winning group.

"We achieved a very successful strategy... We entered a border area with little probability of having environmental problems," said Petrobras CEO Jean Paul Prates, describing the area as "very prolific."

U.S. major Chevron also won rights in 15 blocks in the same basin.

Elysian is based in Minas Gerais state and was created only in August to compete in the auction. Its winning bids stretched across three other offshore basins - Potiguar, Espirito Santo and Sergipe Alagoas.

Outside the Rio de Janeiro hotel where the auction took place, climate activists loudly protested the push to keep pumping more fossil fuels, linked by scientists to catastrophic global warming, demanding an immediate transition to clean energy.

"The signals that the Brazilian government is sending to the international community with an oil auction a day after the (the global climate meetings in Dubai) are the worst possible," said Marcelo Laterman, coordinator of Greenpeace's Oceans Front.

In his opening speech, ANP head Rodolfo Saboia acknowledged the auction may seem like a contradiction, but he argued the world's dependence on fossil fuels will not be eliminated in five or ten years.

He added that new oil and gas exploration is needed to avoid falling oil production over the next decade.

Brazil is Latin America's top crude oil producer, followed by Mexico, Colombia and Venezuela.

In the offshore Santos Basin, Karoon won a pair of blocks, while CNOOC and Norway's Equinor won the other two alone.

Five more blocks in Brazil's pre-salt offshore areas were also auctioned under a sharing regime, with BP winning the rights for the only one that received bids in the Santos Basin. ($1 = 4.9256 reais) (Reporting by Marta Nogueira and Rodrigo Viga Gaier; Writing by Peter Frontini; Editing by Jonathan Oatis, Leslie Adler and Josie Kao)

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Supreme Court seeks US government views on Honolulu climate suit against oil companies

WASHINGTON, June 10 (Reuters) - The U.S. Supreme Court on Monday asked President Joe Biden's administration to offer its views on a bid by Sunoco and other oil companies to scuttle a lawsuit by Honolulu accusing them of deceiving the public about climate change.

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10 Jun 2024 15:25

Brazilian fuel prices to rise due to new tax credit rules, energy lobby says

RIO DE JANEIRO/SAO PAULO, June 10 (Reuters) - New tax credit rules unveiled by Brazil's government are expected to lead to a rise in gasoline and diesel prices in the country, an energy lobby said on Monday, estimating their impact on fuel distributors to reach 10 billion reais ($1.86 billion).

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Norway gas flow to Britain resumes after repair

OSLO, June 7 (Reuters) - The flow of Norwegian gas to northern England via the Langeled pipeline resumed on Friday as repairs were completed following a June 2 outage that triggered renewed concerns over energy security in Europe.

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Repairs completed at platform that halted Norway gas to Britain

OSLO, June 7 (Reuters) - Repairs at Norway's offshore Sleipner Riser platform, which caused a major outage of gas exports to Britain, have been completed, Norwegian pipeline system operator Gassco said in a statement on Friday. (Reporting by Terje Solsvik)

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Norway gas flow to Britain resumes after repair

OSLO, June 7 (Reuters) - The flow of Norwegian gas to northern England via the Langeled pipeline resumed on Friday, live data from Britain's system operator National Gas showed following a June 2 outage that triggered renewed concerns over energy security in Europe. (Reporting by Nora Buli and Terje Solsvik, editing by Stine Jacobsen)

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Canada's oil sands CEOs push back against proposed oil and gas emissions cap

June 6 (Reuters) - Canada's biggest oil sands producers support a paying a tax on carbon but see a proposed federal oil and gas emissions cap as unnecessary legislation, the companies' CEOs told lawmakers in Ottawa on Thursday.

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Norway eyes faster ramp-up of gas export to Britain on Friday

OSLO, June 6 (Reuters) - The resumption on Friday of Norwegian gas exports to Britain via the Langeled pipeline will progress at a faster pace than initially planned, Norwegian system operator Gassco said on Thursday.

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Norway eyes faster ramp-up of gas export to Britain on Friday

OSLO, June 6 (Reuters) - The resumption on Friday of Norwegian gas exports to Britain via the Langeled pipeline will progress at a faster pace than initially planned, Norwegian system operator Gassco said on Thursday.

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5 Jun 2024 13:38

Norway gas supply to Britain to ramp up on Friday, prices ease

OSLO, June 5 (Reuters) - Norway's gas exports to Britain via the Langeled pipeline will gradually resume on June 7 following an outage that began on June 2, delivering just under half the normal capacity, Norwegian system operator Gassco said on Wednesday.

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Norway gas supply to Britain to ramp up on Friday, prices drop

OSLO, June 5 (Reuters) - Norway's gas exports to Britain via the Langeled pipeline will gradually resume on Friday following an outage that began on Sunday, delivering just under half the normal capacity, Norwegian system operator Gassco said on Wednesday.

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QatarEnergy signs LNG supply deal with Taiwan's CPC

DOHA, June 5 (Reuters) - QatarEnergy signed a deal on Wednesday to supply Taiwan's state-owned oil firm CPC with liquefied natural gas (LNG) for 27 years and giving it a stake in the Gulf state's gas expansion project.

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Saudi Aramco holding LNG talks with US firms Tellurian, NextDecade, sources say

LONDON, June 4 (Reuters) - Oil giant Aramco is in talks with U.S. firms Tellurian and NextDecade on two separate liquefied natural gas (LNG) projects as the Saudi firm seeks to boost its gas trading and production, three sources close to the talks told Reuters.

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4 Jun 2024 21:46

Saudi Aramco holding LNG talks with US firms Tellurian, NextDecade, sources say

LONDON, June 4 (Reuters) - Oil giant Aramco is in talks with U.S. firms Tellurian and NextDecade on two separate liquefied natural gas (LNG) projects as the Saudi firm seeks to boost its gas trading and production, three sources close to the talks told Reuters.

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Sector movers: Miners, Big Oil weigh on FTSE 350

(Sharecast News) - Commodity related stocks were the chief drag on the FTSE 350 amid a combination of growth concerns and risk aversion.

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London stocks log declines as losses in miners weigh

FTSE 100 down 0.4%, FTSE 250 falls 0.9%

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