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☆ Oil giant Shell wins appeal against landmark Dutch climate ruling to slash emissions
▼ + stars: | 2024-11-12 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

A Dutch court on Tuesday ruled to dismiss a landmark climate ruling against Shell , after the oil giant was ordered to drastically reduce its global carbon emissions back in 2021. In May 2021, The Hague district court ruled that Shell must reduce its greenhouse gas emissions by 45% from 2019 levels by 2030. Shell's lawyers said demands for companies to curb greenhouse gas emissions could not be made by courts, but only by governments, Reuters reported. The company also said the court ruling would force it to shrink its business without any benefit to the fight against climate change. The burning of coal, oil and gas is by far the largest contributor to the climate crisis, accounting for more than three-quarters of global greenhouse gas emissions.

Persons: Milieudefensie Organizations: Shell, Pernis, Reuters Locations: Rotterdam, Netherlands, Azerbaijan, The Hague, Paris, Hague

☆ The North Sea could become a 'central storage camp' for carbon waste. Not everyone likes the idea
▼ + stars: | 2024-03-04 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +7 min

The receiving dock at the Northern Lights carbon capture and storage project, controlled by Equinor ASA, Shell Plc and TotalEnergies SE, at Blomoyna, Norway, on Friday, Jan. 19, 2024. Offshore carbon capture and storage (CCS) refers to a range of technologies that seek to capture carbon from high-emitting activities, transport it to a storage site and lock it away indefinitely under the seabed. Storage tanks at the Northern Lights carbon capture and storage project, controlled by Equinor ASA, Shell Plc and TotalEnergies SE, at Blomoyna, Norway, on Friday, Jan. 19, 2024. Bloomberg | Bloomberg | Getty ImagesNorway has a long history of carbon management. Bloomberg | Bloomberg | Getty Images"There is definitely a public acceptance risk to storing CO2 onshore.

Persons: Terje Aasland, Aasland, Norway's Aasland, Børre Jacobsen, —, Jacobsen Organizations: Equinor ASA, Shell Plc, Bloomberg, Getty, Norway's Energy, CCS, Institute for Energy Economics, Workers, Northern Lights, Shell, Northern, Venture, CNBC, videoconference Locations: Blomoyna, Norway, Europe, videoconference, Brevik, Norwegian, Sleipner, U.S, Norway's, Longship

☆ A big win for Wells Fargo — plus what's dragging down Google parent Alphabet
▼ + stars: | 2024-02-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

One more down: Shares of Wells Fargo hit a new 52-week high after the Office of the Comptroller of the Currency terminated a 2016 consent order linked to its sales practices. This is the sixth consent order that regulators have terminated since 2019. Every consent order that is resolved brings the bank closer to having the Federal Reserve lift the asset cap that's been holding it back since February 2018. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Linde, Wells Fargo, Charlie Scharf, there's, GOOGL, It's, Jim Cramer's, Jim, Krisztian Bocsi Organizations: CNBC, Air Products, Chemicals, Bank of America, Energy, Cisco Systems, Wells, Currency, Federal Reserve, Microsoft, Google, Materials, University of Michigan, PPI, Jim Cramer's Charitable, Shell Plc, BASF, Linde AG, Bloomberg, Getty Locations: We're, Bank, Wells, Coinbase, Leuna, Germany

Still, it posted a healthy adjusted profit and the company raised its quarterly dividend. Exxon earned $7.63 billion, or $1.91 per share, for the quarter. Chevron also reported its financial results Friday, posting a fourth-quarter adjusted profit of $3.45 per share on revenue of $47.18 billion. Wall Street was calling for a profit of $3.29 per share on revenue of $52.59 billion. On Thursday, Shell plc reported an adjusted profit of $2.22 for the fourth quarter, with revenue totaling $80.13 billion.

Persons: Chevron, “ Organizations: Exxon Mobil's, Revenue, Zacks Investment Research, Exxon, Denbury Resources, Natural Resources, Federal Trade Commission, Hess Corp, Chevron, Shell plc, Analysts, Hamas, U.S Energy Information Administration Locations: California, , Texas, premarket, San Ramon , California, Saudi Arabia, Russia, Israel

REUTERS/Chris Helgren/File Photo Acquire Licensing RightsCompanies Shell PLC FollowLONDON, Nov 2 (Reuters) - Shell (SHEL.L) on Thursday reported third-quarter earnings of $6.2 billion, in line with expectations, on higher refining margins and strong liquefied natural gas (LNG) trading. The company announced share buybacks of $3.5 billion over the next three months, up from $2.7 billion in the previous three months. Shell reported adjusted earnings of $6.22 billion, broadly in line with a company-provided analysts' forecast of $6.25 billion. "Shell delivered another quarter of strong operational and financial performance, capturing opportunities in volatile commodity markets. Production in the Upstream division was up 3% from the previous quarter to 1.75 million barrels of oil equivalent per day (boed).

Persons: Chris Helgren, Shell, Wael Sawan, Ron Bousso, Jason Neely Organizations: Shell, REUTERS, Companies Shell, Integrated Gas, Thomson Locations: Vancouver , British Columbia, Canada, Australia, Trinidad and Tobago, Qatar

☆ ‘We are not in the business of ice cream’: Big Oil CEOs defend themselves against climate criticism
▼ + stars: | 2023-10-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Executives representing energy majors in the U.S., Europe and Asia speak during a CNBC-moderated panel session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates. "So, the debate has always been posed here, I'm reminded of an old saying: 'If you want to keep everyone happy, sell ice cream.' We are not in the business of ice cream — and I'm reminded, there are people who are lactose intolerant," Taufik said. "In mitigating climate change, there is also the opportunity to continue to produce oil for our energy security. Wael Sawan, chief executive officer of Shell Plc, speaks during a panel session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates.

Persons: We've, Tengku Muhammad Taufik, I'm, Taufik, Vicki Hollub, Oxy, Hollub, Patrick Pouyanne, Pouyanne, Wael Sawan Organizations: CNBC, Abu, Abu Dhabi International Petroleum Exhibition, United, United Arab Emirates, Bloomberg, Getty Images, Monday, Big Oil, Amnesty, Petronas, Shell Plc, Getty Locations: U.S, Europe, Asia, Abu Dhabi, United Arab, Paris

☆ Australia's Energy One says no proof of malicious activity after cyber incident
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Sept 29 (Reuters) - Australian software supplier Energy One (EOL.AX) said on Friday it had not uncovered any evidence of malicious activity on their customer systems after a cyber incident was first identified last month. The company had previously said some personal information of its current and former employees had been compromised, for which the notification process is underway. "Our investigations have not revealed any evidence that customer systems have been impacted and the company continues to securely trade," Energy One said in a statement on Friday. Australian firms have suffered many cyber attacks since September 2022, putting the spotlight on the country's understaffed cybersecurity industry. Recently, Shell Plc (SHEL.L) identified a cybersecurity incident involving some employees at BG Group in Australia, the latest company to be hit by the MOVEit hack.

Persons: Clare O'Neil, Ayushman Ojha, Rashmi Aich, Sherry Jacob, Phillips Organizations: Energy, Shell Plc, BG Group, Home Affairs, Thomson Locations: Australian, Australia

☆ California sues oil giants for downplaying risks posed by fossil fuels
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +2 min

A general view of oil drilling equipment on federal land near Fellows, California, U.S., April 15, 2023. The American Petroleum Institute, an industry trade group, has also been listed as a defendant in the case, according to the filing. California has sought the creation of an abatement fund to pay for future damages caused by climate-related disasters in the state, the filing showed. Sharing a similar sentiment, Shell said in an emailed statement, "We do not believe the courtroom is the right venue to address climate change." California Governor Gavin Newsom, said in a post on X, formerly known as Twitter, "California is taking action to hold big polluters accountable."

Persons: Nichola, Shell, Gavin Newsom, ConocoPhillips didn't, Kanjyik Ghosh, Lavanya, Nate Raymond, Mark Potter, Diane Craft Organizations: REUTERS, Rights, Chevron Corp, Conocophillips, Exxon Mobil Corp, Shell PLC, BP, ConocoPhillips, American Petroleum Institute, Reuters, Chevron, Exxon Mobil, Thomson Locations: Fellows , California, U.S, California, San Francisco, United States, Bangalore, Boston

☆ California sues oil giants for downplaying risks posed by fossil fuels - NYT
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +2 min

A general view of oil drilling equipment on federal land near Fellows, California, U.S., April 15, 2023. REUTERS/Nichola Groom/File Photo Acquire Licensing RightsCompanies Bp Plc FollowChevron Corp FollowConocophillips Follow Show more companiesSept 16 (Reuters) - The state of California has sued major oil companies including Exxon Mobil Corp (XOM.N), Shell PLC (SHEL.L), and Chevron Corp (CVX.N), accusing them of playing down the risks posed by fossil fuels, the New York Times reported on Friday. The American Petroleum Institute, an industry trade group, has also been listed as a defendant in the case, the report said, adding that California has sought the creation of an abatement fund to pay for future damages caused by climate related disasters in the state. The legal action follows dozens of lawsuits filed in recent years against the fossil fuel industry by states and municipalities across the United States broadly alleging harms from climate impacts including extreme weather. Reporting by Kanjyik Ghosh in Bangalore; additional reporting by Lavanya Ahire; editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Nichola, Kanjyik Ghosh, Lavanya, Mark Potter Organizations: REUTERS, Rights, Chevron Corp, Conocophillips, Exxon Mobil Corp, Shell PLC, New York Times, BP, ConocoPhillips, American Petroleum Institute, Congress, Shell, Exxon Mobil, Thomson Locations: Fellows , California, U.S, California, San Francisco, United States, Chevron, Bangalore

Sept 15 (Reuters) - Shell Plc (SHEL.L) said on Friday that it has identified a cybersecurity incident involving some employees who worked with the company's unit BG Group in Australia before the merger, becoming the latest victim of the MOVEit hack. A number of businesses globally have lately been affected by a cybersecurity breach on the software tool MOVEit that is typically used to transfer large amounts of often sensitive data including pension information and social security numbers. Shell said it has identified some personal information related to the affected individuals that was accessed without any authorization and has made attempts to notify them of the breach. Shell did not immediately respond to a Reuters request for comment to clarify the exact number of individuals impacted in the cybersecurity incident. Reporting by Roushni Nair and Navya Mittal in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Shell, Hebe Chen, Chen, Roushni Nair, Navya Mittal, Shailesh Organizations: Shell Plc, Group, IG Markets, Reuters, BG, Thomson Locations: Australia, Brazil, Bengaluru

Brent crude was down 36 cents at $84.10 a barrel by 11:45 a.m. EDT (1545 GMT). China, the world's second-largest economy, is considered crucial to shoring up oil demand over the rest of the year. Amplifying demand concerns, U.S. central bank officials have not ruled out further interest rate hikes to contain inflation. A preliminary Reuters poll showed that crude oil and gasoline inventories were expected to have fallen last week, with data from American Petroleum Institute due later on Tuesday. Separately on Monday, Shell (SHEL.L) said it was investigating a possible leak on the 180,000 bpd Trans Niger oil pipeline, though no force majeure has been declared.

Persons: Lucy Nicholson, Brent, Jim Ritterbusch, majeure, Natalie Grover, Paul Carsten, Muyu Xu, Katya Golubkova, Tomasz Janowski, David Evans, David Goodman, David Gregorio Our Organizations: REUTERS, Companies Shell, West Texas Intermediate, Saudi, Ritterbusch, Associates, American Petroleum Institute, of Commerce, Shell, Thomson Locations: Bakersfield , California, China, Russian, Galena , Illinois, U.S, Iraqi, Turkey, Iraq, Saudi, Niger, London, Singapore, Tokyo

☆ Outperforming analysts reveal 2 new oil and gas stock picks — with one expected to rise by 35%
▼ + stars: | 2023-08-09 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Analysts at RBC Capital Markets have revealed two new top stock picks in the oil and gas sector. The bank's energy and utilities equity team is behind a basket of stock picks called the Global Energy Best Ideas List. RBC said the basket rose 7.8% in July, compared to a 6.2% rise in the iShares S & P Global Energy ETF . ALA-CA YTD mountain Callon RBC analysts also favor Callon Petroleum . As well as adding the above two stocks to their Best Ideas List, RBC analysts removed several others this month.

Persons: Vern Yu, Yu, Vern Yu's Organizations: RBC Capital Markets, Global, RBC, P Global Energy, ALA, Callon Petroleum, Shell PLC, California Resources Corp Locations: Canada, United States, Enbridge, North America

CARACAS, July 21 (Reuters) - Venezuelan expects to sign licenses by year-end for developing the nation's vast natural gas reserves, oil minister Pedro Tellechea said on Friday, even amid U.S. sanctions. Most of the South American country's gas reserves remain undeveloped after decades of insufficient investment, contract changes and - in recent years - U.S. sanctions to oust President Nicolas Maduro. But new officials running the oil ministry and PDVSA want to encourage new investment and unfreeze projects. Oil major Shell Plc (SHEL.L), which produces in Trinidad, could operate the Dragon gas field in Venezuela if Maduro's government extends it a license, Trinidad officials have said. Venezuela is producing 831,000 barrels of crude per day (bpd) this month and expects to increase to 1 million bpd by year-end.

Persons: Pedro Tellechea, Nicolas Maduro, Tellechea, Spain's, Maurel, Deisy Buitrago, Mayela Armas, Vivian Sequera, Marianna Parraga, Alison Williams Organizations: Eni, Shell, Thomson Locations: CARACAS, Caracas, United States, Trinidad and Tobago, Venezuela, Trinidad, China

The total number of recent victims from the online extortion ring has reached 121 organizations, according to Brett Callow, whose cybersecurity company Emsisoft helps companies respond to digital shakedown attempts. In 2021, Ukrainian authorities announced the arrests of six people tied to cl0p, but it's not clear that they were core members of the group, which continued to hack victims. Plundering file transfer protocols has become increasingly popular as hackers shift from encrypting data to simply stealing files and threatening to release them unless a ransom is paid. Many of the organizations stress that the target of the hack is the file transfer service, not their systems. The FBI said it was "aware of and investigating the recent exploitation of a MOVEit vulnerability by malicious ransomware actors."

Persons: Brett Callow, encrypting, TrendMicro, didn't, Cl0p, Emsisoft, Charles Carmakal, Raphael Satter, Christopher Bing, James Pearson, Cynthia Osterman Organizations: University of California, Siemens Energy, Abbvie Inc, Schneider, Publicly, Sony, Shell PLC, Government, U.S . Energy Department, Alphabet Inc, FBI, Thomson Locations: Los Angeles, Russia, Washington, London

☆ Shell restarts Norco, Louisiana refinery after power outage, fire
▼ + stars: | 2023-06-25 | by ( Erwin Seba | ) www.reuters.com time to read: +1 min

Companies Entergy Corp FollowShell PLC FollowHOUSTON, June 25 (Reuters) - Shell Plc (SHEL.L) has begun restarting its 227,900 barrel-per-day (bpd) refinery in Norco, Louisiana after it was shut following a power outage, a company spokesperson said on Sunday. Shell gradually began resuming operations at the Norco refinery on Saturday, the sources said. The power interruption took place on Saturday at an Entergy substation supplying the Norco refinery, Shell spokesperson Curtis Smith. DU-5 is the only CDU at the Norco refinery. In a notice posted to area residents, Shell said power was restored to the refinery on Saturday afternoon.

Persons: Curtis Smith, Norco, Shell, Erwin Seba, Lisa Shumaker, Sherry Jacob, Phillips Organizations: Entergy, Shell, HOUSTON, Shell Plc, DU, Thomson Locations: Norco , Louisiana, United States

☆ Shell says Singapore energy, chemicals assets under review
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: 1 min

Companies Shell PLC FollowSINGAPORE, June 14 (Reuters) - Shell (SHEL.L) said on Wednesday it is conducting a strategic review of energy and chemicals assets on Bukom and Jurong Island in Singapore. The move was announced as part of the company's strategy update for investors, aimed at creating more value with less emissions. The Bukom refinery, Shell's only wholly owned refining-petrochemical centre in Asia, can process 237,000 barrels per day (bpd) of crude. Reporting by Florence Tan; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Tan, Muralikumar Organizations: Shell PLC, SINGAPORE, Thomson Locations: Bukom, Jurong, Singapore, Asia

☆ Exxon, Chevron shareholders soundly reject climate-related petitions
▼ + stars: | 2023-05-31 | by ( Sabrina Valle | ) www.reuters.com time to read: +3 min

HOUSTON, May 31 (Reuters) - Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) shareholders on Wednesday overwhelmingly rejected calls for stronger measures to mitigate climate change, dismissing more than a dozen climate-related proposals at their annual meetings. His group, which represents some 9,500 shareholders in oil and gas companies, had requested Exxon set medium-term targets for meeting customer emissions reduction goals that seeks to keep global temperature increase below 1.5° Celsius. That resolution received less than half of the support 11% of vote cast compared with 27% from the group's emission reduction proposal last year. Exxon holders rejected all 12 shareholder proposals, the majority of which dealt with climate-related issues. Chevron investors also rejected proposals on customers' emissions reduction target, creating a board committee on decarbonization risk, and a report on worker and community impact from facility closures and energy transitions.

Persons: Mark van Baal, Darren Woods, Woods, Sabrina Valle, Arathy, Mrinalika Roy, Sourasis Bose, Jon Boyle, Marguerita Choy Organizations: HOUSTON, Exxon Mobil Corp, Chevron Corp, Shell PLC, BP PLC, Exxon, Chevron, Thomson Locations: Ukraine, Guyana, Houston, Bengaluru

☆ ‘Go to hell, Shell’: Climate protesters try to storm stage at oil giant’s annual shareholders meeting
▼ + stars: | 2023-05-23 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

The protests come as Shell faces a shareholder vote on a measure to increase its climate ambitions following a year of record profits at the company. Bloomberg | Bloomberg | Getty ImagesLONDON — Shell Chief Executive Wael Sawan and the firm's board of directors on Tuesday were shielded by security staff as climate protesters unsuccessfully tried to storm the stage at the British oil giant's annual shareholders meeting. Follow This, a small Dutch activist investor and campaign group with stakes in several Big Oil companies, tabled a resolution at Shell's shareholders meeting. For the first time, Dutch pension managers MN and PGGM — both Shell shareholders — have endorsed the resolution. The company described Climate Resolution 26 as "unclear, generic and would create confusion as to Board and shareholder accountabilities."

NEW YORK, May 17 (Reuters) - Shell Plc (SHEL.L) will use AI-based technology from big-data analytics firm SparkCognition in its deep sea exploration and production to boost offshore oil output, the companies said on Wednesday. SparkCognition's AI algorithms will process and analyze large amounts of seismic data in the hunt for new oil reservoirs by Shell, the largest oil producer in the U.S. Gulf of Mexico. "We are committed to finding new and innovative ways to reinvent our exploration ways of working," Gabriel Guerra, Shell's vice president of innovation and performance, said in a statement. "Generative AI for seismic imaging can positively disrupt the exploration process and has broad and far-reaching implications," said Bruce Porter, chief science officer for Austin, Texas-based SparkCognition. The technology would generate subsurface images using fewer seismic data scans than usual, helping with deep sea preservation, the companies said.

☆ Fire burns for third day at Shell Texas chemical plant
▼ + stars: | 2023-05-07 | by ( Erwin Seba | ) www.reuters.com time to read: +1 min

HOUSTON, May 7 (Reuters) - A fire burned for a third day on Sunday at Shell Plc's (SHEL.L) chemical plant in the Houston suburb of Deer Park, Texas, a company spokesperson said. The fire initially ignited on Friday afternoon in an explosion in an olefins unit, used to make plastics and rubber. The fire was extinguished for a few hours on Saturday morning before it reignited around 3 p.m. CDT (2000 GMT), said Shell spokesperson Curtis Smith. Water runoff has exceeded the chemical plant's wastewater capacity and is being diverted into the Houston Ship Channel, Smith said. Olefins units are the central units in petrochemical complexes, producing ethylene, butadiene and propylene from hydrocarbon feedstocks.

☆ No harmful chemical levels in air after Shell Texas chemical plant fire, company says
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] An olefins unit burns in fire at Shell Deer Park, Texas chemical plant in this screengrab obtained from social media on May 5, 2023, in Deer Park, Texas, U.S. Johnny Walea via TMX/via REUTERSMay 6 (Reuters) - Air monitoring around an extinguished fire at the Shell Plc's (SHEL.L) chemical plant in Deer Park, Texas, showed no harmful levels of chemicals in the air, the company said on Saturday, added that there was no threat to the surrounding community. The fire broke out shortly before 3 p.m. CDT (2000 GMT) on Friday after in an olefins unit at the plant in the Houston suburb. Five people were taken for evaluation of possible injuries due to exposure to burned chemicals, the county sheriff said on Friday. The company on Saturday said in a series of tweets that the fire was extinguished and air monitoring has detected no harmful levels of chemicals. Operations at the refinery continued despite the fire in the chemical plant, sources familiar with the refinery's operations said.

☆ Six injured in Shell Texas chemical plant fire
▼ + stars: | 2023-05-05 | by ( Erwin Seba | ) www.reuters.com time to read: +1 min

HOUSTON, May 5 (Reuters) - Six people were injured after a fire broke out in an olefins unit on Friday at Shell Plc's (SHEL.L) Deer Park, Texas chemical plant, said five people familiar with plant operations. A large column of black smoke could be seen rising from the fire in the olefins unit located near Highway 225 in the Houston suburb of Deer Park, the sources said. In a notice posted on a website for nearby residents, Shell said there was a fire at the chemical plant. All personnel at the plant at the time the fire broke out had been accounted for by 4 p.m. CDTOperations at the neighboring Pemex (PEMX.UL) refinery were continuing despite the fire in the chemical plant, said sources familiar with the refinery's operations. Pemex bought the Deer Park refinery from Shell in 2022.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Exxon declares force majeure on crude liftings in Nigeria
▼ + stars: | 2023-04-17 | by ( Sabrina Valle | ) www.reuters.com time to read: +1 min

[1/2] A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File PhotoHOUSTON, April 17 (Reuters) - Exxon Mobil Corp. (XOM.N) in Nigeria declared force majeure on oil liftings from different terminals in the country following industrial action by the company's in-house workers union, the company said on Monday in a statement. In the third quarter last year, production in Nigeria fell behind Angola to about 1 million bpd as companies like Shell PLC (SHEL.L) and TotalEnergies (TTEF.PA) exited the country amid widespread corruption and security issues. Nigeria produced 1.38 million bpd in February, according to OPEC's latest report. "We will continue to take all reasonable actions necessary to resolve the impasse as soon as possible," Exxon spokesperson Michelle Gray said in a statement on Monday.

☆ Britain eyes development roles in Japan offshore wind -official
▼ + stars: | 2023-04-16 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

The UK is one of the world's largest offshore wind markets, with more than 10 GW of installed capacity. Japan has launched a second major round of public auctions to select operators for four new areas capable of generating 1.8 GW of offshore wind power. It wants to install up to 10 GW of offshore wind capacity by 2030 and up to 45 GW by 2040. Shapps did not specifically mention the offshore wind power auctions but said there were "very broad areas of cooperation between UK and Japan" in offshore wind development. He also noted the targets set by G7 on solar and offshore wind generation were "overall" for the group.

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