Shell PLC is taking precautionary measures to protect its operations in the Gulf of Mexico as Tropical Disturbance 35 threatens the region. The company is shutting down production at the Stones and Appomattox fields and evacuating non-essential personnel from the Mars Corridor. While production at other locations remains unaffected, Shell is pausing some drilling operations.
Hurricane Francine, which made landfall on Wednesday as a Category 2 hurricane, caused minimal damage to energy companies on the U.S. Gulf Coast. Shell, Entergy, and Enterprise Products Partners reported no significant damage to their facilities, despite some power outages. Emergency crews are now working to clear roads and restore electricity in Louisiana.
Shell and ENI have led an investment round for Mantel Capture, a company developing a novel method for capturing carbon dioxide emissions using molten salts. This technology could potentially revolutionize carbon capture for industries like refineries and factories, offering a cost-effective solution to reduce emissions.
Helix Energy Solutions Group, Inc. (HLX) has secured a multi-year agreement with Shell Offshore Inc. to provide well intervention services in the U.S. Gulf of Mexico starting in 2025. The contract reflects improving market conditions and increased demand for Helix’s services.
Shell plc (SHEL) shares are trading lower premarket Tuesday after the company announced a 10-year LNG agreement with Turkey’s BOTAŞ. The deal will see Shell supplying up to 4 billion cubic meters of LNG annually, starting in 2027, contributing to Turkey’s goal of diversifying its gas resources and establishing itself as a regional gas hub.
Shell Pipeline Company LP and Triton West LLC, subsidiaries of Shell USA, Inc., have agreed to sell their 100% interest in the Sinco pipeline system and Colex terminal to Edgewater Midstream LLC. This move aligns with Shell’s strategy to simplify its portfolio and focus on projects with lower emissions.
Shell plc is planning to reduce its oil and gas exploration and development workforce by 20% as part of a larger restructuring effort aimed at reducing emissions and costs. This move follows significant cuts in the company’s renewables and low-carbon businesses and will result in hundreds of job losses globally.
Gevo, Inc. (GEVO) announced a partnership with Shell to supply its low-carbon intensity fuel blendstock for motorsports. The agreement highlights Gevo’s commitment to sustainable fuels and Shell’s focus on sustainability in racing. The blendstock aims to offer both performance and environmental benefits.
More than a fifth of Shell shareholders voted against the company’s climate strategy at its annual general meeting, rejecting a resolution calling for alignment with Paris Agreement goals. The meeting was marked by interruptions from protesters condemning Shell’s environmental and human rights record. Despite a slight decrease from last year, nearly 19% of voters supported the climate resolution, reflecting investor concerns over Shell’s commitment to reducing emissions.
