31 October 2023
31 October 2023
Following a visit to Nigeria, the German Chancellor said it was important to diversify supply and is looking to the African nation for more gas.
The licences, awarded in the UK’s 33rd licensing round, are located in the central and northern North Sea, and west of Shetland.
The oil major is exploring joint ventures (JVs) for operations in the Eagle Ford and Haynesville basins.
Earnings fell due to lower upstream realisations and lower margins on sales of refined products.
Demand for its oil is being driven by China’s macroeconomic recovery and international exports.
From January to September 2023, average daily production of hydrocarbons was 600,000 barrels, which was 10% more than during the same period last year.
The LCS unit employs around 1,300 people, and Shell plans to eliminate 200 jobs in 2024 and has put another 130 roles under review.
Sustainable aviation fuel (SAF) is rapidly gaining prominence globally, with most of its production being planned through standalone renewable refineries.
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Although quantum computing is still in the R&D stage, its potential use cases in the oil and gas industry are numerous and are likely to expand. Oil majors, such as BP and ExxonMobil have joined IBM’s Q Network to develop quantum computers that will increase the understanding of subsurface geology. Companies are also looking at these computers to study molecular modeling and emission mitigation. Besides, the long-standing problems of matching demand with production and optimizing supply chains could be solved using quantum computing.
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