Shell to boost investment to replace missing barrels
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Royal Dutch/Shell announced plans to boost spending on exploration and production while selling non-core assets, making the replacement of its missing reserves a priority in restoring battered investor confidence.
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Here's a way to benefit from an increase in the global demand for oil.
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BP America, the US arm of British energy giant BP, is to spend more than 550 million dollars (432 million euros) over the next two years on improvements to its Alaskan oil fields, including pipeline repairs, the group has said in a statement.
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Royal Dutch/Shell Group on Wednesday said it will spend $45 billion and sell off up to $12 billion worth of assets to reinvigorate its underperforming oil and natural gas business.
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Shares in Royal Dutch/Shell surged on  Thursday as a unified structure unveiled by the oil giant is  set to dramatically lift its weighting in key benchmark share  indexes.
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Royal Dutch/Shell Group unveiled another, bigger-than-expected, cut in oil reserves on Thursday but tempered the news by announcing record profits and plans for higher dividends and share buybacks.
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LONDON -- Royal Dutch/Shell Group on Wednesday announced a $150 million increase in the amount of money it will spend in 2004 on exploration and production in Europe, bringing the total to $1.
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Royal Dutch/Shell will invest $15 billion (8 billion pounds) a year in 2004/06 to boost reserves and production, as it tries to draw a line under a reserves scandal that rocked the group.
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Royal Dutch/Shell says the two holding companies that own the group are to merge, after reporting bumper third-quarter profits on the back of high oil prices.
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Anglo-Dutch oil giant Royal Dutch Shell said on Thursday that net profits leapt 23 percent last year to a record 31.331 billion dollars (21.115 billion euros), energised by soaring crude prices.
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Shell Oil Co said on Friday it has  decided to go ahead with a 325,000 barrel-per-day capacity  expansion of the Motiva refinery in Port Arthur, Texas.
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Anglo-Dutch oil firm Shell is considering the position of a number of workers as part of a review of its operations.
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Gazprom  may pay Royal Dutch Shell Plc  for money already spent developing the Sakhalin-2 oil and gas fields if it buys a stake, but analysts do not expect the Russian giant to pay a premium for expected profits or control.
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Repsol, Spain's biggest oil firm, said Tuesday it planned to invest 3.2 billion euros (4.7 billion dollars) to double capacity at its refinery in Cartagena in southwestern Spain.
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LONDON -- The Royal Dutch/Shell Group said Wednesday that it would sell as much as $12 billion in assets, spend $45 billion on new projects and consider some acquisitions as it tries to bolster oil and gas production.
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The Anglo-Dutch oil giant Shell today sought to draw a line under its reserves scandal by announcing plans to spend $15bn (Â£8.4bn) a year to replenish reserves and develop production in its oil and gas business.
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Exxon said it would spend much of the record $39.5 billion it earned last year by increasing investment in oil and natural gas projects.