Pakistan has selected groups that include Exxon Mobil Corp and Royal Dutch Shell to build five liquefied natural gas (LNG) terminals as it aims to triple imports and ease gas shortages.
Royal Dutch Shell’s profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company’s retail network and trading business helped cushion the blow.
Royal Dutch Shell on Tuesday outlined plans to increase spending and dividends after 2020 in a show of confidence by the energy company despite an uncertain outlook for oil and gas prices.
Royal Dutch Shell reported on Thursday a small drop in first quarter profit to $5.4 billion, but still easily beat forecasts, helped by stronger trading and liquefied natural gas earnings. Shell’s results outshone those of rivals Exxon Mobil, Chevron and BP which all saw sharp declines in profits
Royal Dutch Shell will lower spending by $5 billion and suspended its vast $25 billion share buyback plan in an effort to weather the recent collape in oil prices, it said on Monday.
Royal Dutch Shell still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change problems, its chief executive said.
Royal Dutch Shell said on Tuesday it would write off assets worth up to $22 billion after the coronavirus crisis knocked oil and gas demand and weakened the energy price outlook.
Royal Dutch Shell said on Friday it expected to write down up to $2.3 billion in the fourth quarter, the latest major energy company forced to shrink estimates for sector values due to a weaker economic outlook.
Royal Dutch Shell is reining in its vast $25 billion share buyback programme after lower oil and natural gas prices halved its profit in the last three months of 2019 and sent its shares to their lowest in nearly three years.