Oil major Shell has drawn interest from potential bidders including Exxon and LyondellBasell for its U.S. chemical assets, which could fetch as much as $8 billion, the Financial Times reported on Monday, citing people familiar with the matter.
South Africa's Constitutional Court on Friday ruled that offshore exploration led by Shell cannot proceed, in a setback for the oil major after years of legal challenges by affected communities and environmental groups.
UK energy stocks are leading gains on the FTSE 100 today as crude oil and natural gas prices rebound, boosting sentiment across the sector. BP stock climbed to 534p, up 18.5% from its July low and 63% above its lowest level last year.
Shell said on Wednesday it would invest in the next phase of the Surat Gas Project in Queensland, Australia, which is being developed by Arrow Energy, a joint venture owned equally by Shell and PetroChina.
Shell PLC (LSE:SHEL, NYSE:SHEL) has struck a deal to sell its European onshore renewables business to France's TotalEnergies. The FTSE 100 oil giant said it was continuing to reshape its power portfolio and recycle capital into businesses where it believes it has a competitive advantage.
Shell said on Monday it had agreed to sell its onshore European renewables unit to TotalEnergies in a deal including assets across Italy, the Netherlands, Spain and the UK.
Shell said on Friday it had agreed to sell its unit BG Cyprus to Hungarian oil and gas firm MOL Group for up to $720 million, subject to milestone-linked contingent payments.