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Tag: Shell

EXXONMOBIL-REFINERY
Business

ExxonMobil’s profit doubles in Q1 over high demand

ExxonMobil’s profits in the first quarter of 2023 doubled due to the increased demand for oil and gas and cost-cutting measures, resulting in a record $11.4bn profit despite falling oil prices and paying $200m in windfall taxes in Europe. BBC reported that the energy giant’s profits included a $3.4bn after-tax reduction to exit Russia. The […]

Business

Shell’s oil production drops over insecurity, theft – Report

One of the global energy giants, Shell has said its production in Nigeria dropped by a quarter in 2022 as it continues to fight insecurity and crude oil theft. This was disclosed in the organisation’s annual report released on Thursday accessed by BusinessDay. According to the report, the company said its share of production, onshore […]

Business

Ex-Shell CEO’s pay package hits £9.7m – Report

The former CEO of the oil giant, Shell, Ben van Beurden, received a total pay package of £9.7 million in 2022, a report has revealed. According to Shell’s annual report and accounts accessed by BBC, the Dutchman received a total remuneration of £6.3 million in 2021. This means there was over £3 million increase in […]

Pollution: Shell to pay Nigerian farmers €15m compensation
News

Shell to pay first tax in UK since 2017

Following significant global gains last year, Shell has announced that it will pay taxes in the UK for the first time since 2017. In the last three months of the year, the energy company predicted that profits in the UK and the EU would “take a knock” of about $2 billion (£1.7 billion). In order […]

Pollution: Shell to pay Nigerian farmers €15m compensation
News

Pollution: Shell to pay Nigerian farmers €15m compensation

Agency Report Shell said Friday it will pay 15 million euros to Nigerian farmers to compensate them for damage from pipeline leaks. A Dutch appeals court ruled last year, following 13 years of legal battles, that Shell’s Nigerian branch must pay out for a series of leaks and that the parent company must install new […]

Oil and Gas

Shell completes offshore FPSO’s maintenance

Shell Nigeria Exploration and Production Company Limited has announced the completion of the Turn Around Maintainance of its offshore Floating Production Storage and Offloading Vessel, titled: ‘Bonga’.   The company’s Media Relations Manager, Abimbola Essien-Nellson made this announcement in a statement on Monday.   According to the Tide, the completion of the mandatory overhaul of […]

Shell CEO Ben van Beurden to resign 2023
Oil and Gas

Shell CEO Ben van Beurden to resign 2023

Shell announced that CEO Ben van Beurden will step down at the end of the year after nearly a decade of holding the position. According to Reuters, Wael Sawan will become its next chief executive on Jan. 1. This is coming following a report that Shell had been actively looking for a successor to replace […]

Oil theft: More illegal pipelines uncovered in Delta
Oil and Gas

Shell discharges five oil barrels into Ogoni

After an operation failure, the Shell Petroleum Development Company discharged five barrels of crude oil into the Bodo community in the Gokana Local Government Area of Rivers State. The spillage which was said to be 98 per cent water was confirmed by a report of a Joint Investigation Visit. According to The PUNCH, the report […]