Shell released its Sustainability report for 2017, addressing matters regarding the transition to a low-carbon energy future and measures to tackle climate change, while also improving the economic and social benefits of energy. Shell noted that it supports the Paris Agreement, as it “achieved a landmark agreement to tackle climate change”.
Netherlands-based oil major Royal Dutch Shell will name Maersk Oil’s former Chief Executive, Gretchen Watkins, as a president for its US arm, in Houston. Current president Bruce Culpepper is expected to step down from his role at the end of 2018, after more than 37 years service at Shell, the company said on Tuesday.
On Monday, oil major Royal Dutch Shell unveiled a scenario which finds zero emissions world by 2070, outlining what it believes to be a technologically, industrially, and economically possible route forward, consistent with limiting the global average temperature rise to well below 2°C from pre-industrial levels.
Shell has a long-term lease with the Port for the operation of the terminal until 2023, which can be extended by a new 30-year lease. The proposed project needs to comply with Marine Oil Terminal Engineering and Maintenance Standards, which are standards that apply to all marine oil terminals in California.
A number of oil companies, traders, and banks want to start using blockchain technology for bills of lading, the documents that verify cargo ownership in commodity trading. This development can result in less paperwork, costs, and errors.
Shell Exploration and Production Tanzania Limited are working with the Government of Tanzania to develop cost competitive development options for the Tanzania Gas and LNG project and establishment of the commercial framework for the project.
The LNG market continues to perform above expectations, as its demand grew by 29 million tonnes to 293 million tonnes in 2017, according to Shell’s annual LNG Outlook. However, based on current projections, Shell predicts a supply shortage in mid-2020s, unless new LNG production project commitments are made soon.
Russian shipping company Sovcomflot signed time-charter agreements with Shell for two LNG fueled Aframax tankers. The vessels are part of a series of six SCF Group tankers that are currently under construction and will be delivered between the third quarter if 2018 and the first quarter of 2019.
Shell’s Cougar platform after producing more than 31 million barrels of oil equivalent over a span of nearly two decades, will now help sustain a healthy, vibrant Gulf of Mexico ecosystem as an artificial reef. The jacket is now providing habitat for marine life, including red snapper, amberjack, and many reef-dependent fish.
Italian Energy company Eni, announced that it has made a lean gas discovery in Block 6 Offshore Cyprus with Calypso 1 NFW. The well was drilled in 2,074 meters of water depth reaching a final total depth of 3,827 meters. Eni characterizes Calypso 1 as a promising gas discovery and confirmed the extension of the “Zohr like” play in the Cyprus Exclusive Economic Zone.
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