ADNOC investment decision for Ruwais LNG in UAE confirmed by Shell as three other players also take stakes
Shell Plc has confirmed its shareholding with four other partners in the new LNG export plant being developed in the United Arab Emirates by Abu Dhabi National Oil Company’s (ADNOC) at Al Ruwais.
ExxonMobil is latest major and prominent LNG market player to warn on adjustments to earnings expectations
ExxonMobil Corp. the US major and prominent LNG market player has been become the latest oil and gas company to warn on expected adjustments in second-quarter earnings.
Cashing in on Shell
June 10 (LNGJ) - Shell plc announced the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2024 interim dividend, which was put at US$0.344 per ordinary share.
“Holders of ordinary shares who validly submitted US dollars, euros or pounds sterling currency elections by June 3, 2024 will be entitled to a dividend of US$0.344, €0.3166 or 26.94p per ordinary share, respectively,” said Shell. Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from June 5 to June 7, 2024.
Shell posts drop in profits with impairment charges and price declines but LNG sales rise to 67 million tonnes
Shell reported a drop in fourth-quarter and annual profits as oil and gas prices declined from last year while the UK major’s LNG sales increased to over 67 million tonnes for the year.
UK major Shell to take impairment charges on Singapore assets amid forecasts of gas and LNG trading boosts
UK major Shell expects to take non-cash impairment charges of between $2.5 billion to $4.5Bln for the fourth quarter, mainly related to the Singapore refining and chemicals hub that Shell is seeking to sell off, though quarterly income attributable to shareholders was expected to remain at around $7 billion.
Profits fall for Shell but cash flow and LNG sales volumes remain high amid positive forecast for rest of year
UK major Shell reported much reduced third-quarter profits of $6.2 billion, lower than the $9.45Bln of profits returned in the same three months of 2022 as natural gas prices dropped, while quarterly sales of liquefied natural gas were still over 16 million tonnes.
Shell reports drop in earnings on lower prices and trading profits while LNG sales stay above 16 million tonnes
The largest European energy major Shell posted a 47 percent drop in overall quarterly profits, reflecting lower LNG trading and optimisation results and a drop in oil and gas prices as well as refining margins.
Shell reports higher than expected profits underpinned by almost 17 million tonnes of LNG sales
UK major Shell plc reported an increase in net profits for the first three months of the year as liquefied natural gas sales volumes rose by 6 percent on the previous quarter, though were slightly less than the same quarter of 2022.
Shell completes natural gas production project in UK North Sea in tandem with increasing global LNG sales
Shell UK said it completed the restart of operations at the Pierce field in the UK Central North Sea after a significant upgrade project to allow natural gas to be produced after years of the field producing only oil.
Shell earnings update
Jan 6 (LNGJ) - Shell Plc has updated its earnings forecast for Integrated Gas and the other divisions and sees lower liquefaction volumes in Australia. Shell said these lower volumes mainly reflected the longer than expected plant outage at the “Prelude FLNG” plant offshore northwest Australia and “operational issues” at the Queensland Curtis LNG export facility.
Shell’s adjusted earnings in Integrated Gas will see pre-tax depreciation of $1.2 billion to $1.6 billion. Shell added that its Trading and Optimisation earnings in the fourth quarter were “expected to be significantly higher” compared with the third quarter of 2022. In the Upstream division production was expected to be between 1,825 and 1,925 kboe/d.
