Shell

Global energy giant Shell has acquired Mumbai-based Raj Petro Specialities to deepen its foothold in the world's third biggest lubricants market in the world, a top company official said. Shell, which has already invested over USD 5 billion in India across the energy value chain -- from LNG import terminals and fuel stations to renewable energy and technology centres -- has acquired 100 per cent equity interest in Raj Petro Specialities Pvt Ltd from Germany's Brenntag Group. "I think the acquisition of Raj Petro marks a very important and a significant milestone for the lubricants business in the country. India is the third biggest lubricants market and from our strategic intent India is one of the important growth markets. "So we have always been looking at ways by which we can serve more consumers with more products at the right price points," said Mansi Madan Tripathy, Chairman of Shell Group of Companies in India and Vice President - Lubricants Asia Pacific. Without disclosing

Shell's denial of BP takeover reports has triggered a UK rule barring it from making an offer for at least six months

BP is under intense pressure after years of under-performance and the intervention of aggressive activist shareholder Elliott Investment Management

The oil major has been more seriously discussing the feasibility and merits of a BP takeover with its advisers in recent weeks

Demand for natural gas continues to rise globally as the world transitions to cleaner fuels

The oil major also announced a $3.5 billion share buyback for the current quarter, making this the 13th consecutive quarter of at least $3 billion of share repurchases

With about 8.3 million people, New York City said the companies falsely portrayed themselves in ads and social media as climate change leaders despite minimal investments in clean energy

Shell also said it would take $1.5 billion to $3 billion of non-cash, post-tax impairments, including up to $1.2 billion in its renewables division, linked to European and North American assets

Joint venture will be based in Aberdeen, Scotland, and will be set up to sustain domestic oil and gas production and security of energy supply in Britain, Equinor said

A Dutch appeals court on Tuesday overturned a landmark ruling that ordered energy company Shell to cut its carbon emissions by net 45% by 2030 compared to 2019 levels. The decision was a defeat for the Dutch arm of environmental group Friends of the Earth, which hailed the original 2021 ruling as a victory for the climate. Tuesday's civil ruling can be appealed to the Dutch Supreme Court. The ruling upholding Shell's appeal came as a 12-day U.N. climate conference was entering its second day in Azerbaijan. Presiding Judge Carla Joustra said that Shell already has targets for climate-warming carbon emissions that are in line with demands of Friends of the Earth both for what it directly produces and for emissions produced by energy the company purchase from others. And she added that an order for Shell to cut emissions by people and businesses who buy its products would be unlikely to have an effect as the products could be sold by another company. The court's final judgment is tha

Shell shares were up 1% in early London trading

The restructuring in the exploration and wells development and subsurface units will see hundreds of job cuts around the world

The results were lifted by strong performances in the oil and gas production and retail marketing businesses and the profit was nearly 25 per cent higher than the same time a year ago

It is rare for companies to suspend development of projects underway. Rival BP last week said it is pausing two biofuel projects in Germany and the United States

The company, however, introduced a new 'ambition' to cut overall emissions from oil products such as gasoline and jet fuel sold to customers by 15-20% by 2030 compared with 2021

Shell's chemicals and products divisions, which include refining and oil trading, registered a more than threefold rise in adjusted earnings from the previous quarter to $2.8 billion

State gas utility GAIL (India) Ltd and oil producer ONGC will explore possibility of using Shell's import terminal at Hazira in Gujarat for importing ethane and other hydrocarbons to fuel their petrochemical ambitions. GAIL had in May last year signed a memorandum of understanding with Shell Energy India Pvt Ltd to explore opportunities in energy value chain, including sourcing of ethane. On Thursday, "GAIL, Oil and Natural Gas Corporation (ONGC) and Shell Energy India (SEI) Pvt Ltd signed a tripartite memorandum of understanding (MoU) to explore opportunities for import of ethane and other hydrocarbons and development of evacuation infrastructure at Shell Energy Terminal, Hazira," GAIL said in a statement. Both GAIL and ONGC are exploring import of ethane from countries such as the US for planned petrochemical plants that are aimed at catering needs for goods ranging from plastics to paints and adhesives in the fast expanding economy. GAIL is looking to build an ethane cracker whi

The British company's payouts to shareholders reached around $23 billion in 2023, over 10% of Shell's market value

Last year, the company paid $40.5 million in tax from a UK profit of $1.81 billion, according to its annual tax-contribution report

Shell India has hiked diesel prices by as much as Rs 20 per litre in less than a week's time, but the dominant public sector fuel retailers continue to keep rates on freeze for a record 18th month in a row. With international oil prices hovering around USD 90 per barrel, the India unit of the world's second-largest oil and gas company last week started raising fuel prices by Rs 4 per litre every day, company dealers and industry sources said. The result is Shell India, whose 346 petrol pumps are mostly concentrated in the southern and western states, is now selling diesel at Rs 130 per litre in Mumbai and Rs 129 in Chennai. Petrol at Shell bunks costs Rs 117-118 a litre. This compares to a price of Rs 106.31 a litre for petrol at public sector company's petrol pumps in Mumbai and Rs 102.63 in Chennai. Diesel at PSU pumps costs Rs 94.27 a litre in Mumbai and Rs 94.24 in Chennai. In Bengaluru, Shell is selling diesel for Rs 122 as compared to Rs 87.92 a litre rate at petrol pumps ow