societe: Shell

Brazil: arm wrestling between Lula and the oil giants

Brazil faces a complex economic dilemma with the creation of a tax on crude exports. While the government is trying to finance social programs by partially reinstating fuel taxes, foreign oil companies are opposed to this measure.

Shell explores renewable fuels for the marine sector

According to a report released by Shell on March 21, the maritime sector will need to greatly increase the use of bio-based and hydrogen marine fuels by 2040 to help achieve carbon neutrality by mid-century.

United Kingdom: oil rigs on strike

Thousands of oil and gas workers operating on the British continental shelf are on strike to demand fairer wages and working conditions, highlighting the windfall profits made by these companies.

Shell announces Dover, its new subsea link in the Gulf of Mexico

Shell Offshore Inc. announced its commitment to a new offshore project in the Gulf of Mexico. The Dover project, which will be attached to Shell’s Appomattox production hub, is expected to begin production by the end of 2024 and produce up to 21,000 barrels of oil equivalent per day at its peak.

Oil prices: BP and Shell CEOs hit the jackpot

BP’s chief executive’s pay doubled in 2022 to £10 million. The surge in hydrocarbon prices has boosted the results of the oil major, which has announced significant distributions to shareholders.

Shell CEO’s record pay raises controversy

The oil sector continues to be controversial as the profits of the majors have soared due to rising energy prices. Meanwhile, executive compensation at these companies has also skyrocketed, prompting outrage from critics.

French Guiana attracts the interest of oil giants

Guyana has attracted the attention of major oil companies such as Shell, Petrobras and Chevron for its upcoming auction of offshore oil exploration blocks. This region is considered the hottest of the decade in terms of oil potential.

Record net profit for Eni in 2022

Italy’s Eni Group on Thursday announced record net profits of 13.8 billion euros for the year 2022, more than double the profits made the previous year. A tax on “excess profits” has also been introduced by Italy and competitors are following suit despite the fact that Eni’s share price is falling on the Milan stock exchange.

Gas prices fall below 50 euros

Gas prices on the European market are falling for the first time since September 2021, reaching just under 50 euros per megawatt hour on Friday. Fears of winter shortages due to Europe’s dependence on Russia as an energy supplier have abated. This price decline is due to abnormally high temperatures and limited competition for liquid natural gas.