Argentina's state-run oil company YPF said it reached a preliminary deal with Royal Dutch Shell Plc to develop oil and gas assets in the Vaca Muerta shale field, involving a US$300 million investment from Shell.
Royal Dutch Shell is considering investing billions in Brazil, set to become a focal point after the planned acquisition of BG Group, even as it prepares to sell huge chunks of its business to pay for the $70bn deal.
Oil companies have eyed the Arctic for years. With an estimated 90 billion barrels of oil lying north of the Arctic Circle, the circumpolar north is arguably the last corner of the globe that is still almost entirely unexplored.
Brazil’s Petrobras is selling its 20% stake in the Gila prospect in the US Gulf of Mexico as part of its ongoing divestment program. The state-owned company said it had signed a sale and purchase agreement for the sale of its equity in exploration blocks KC 49, 50, 92, 93, 94 and 138, which make up the BP-operated asset.
Royal Dutch Shell has said that it will suspend its offshore drilling program in the Arctic for the rest of 2013 in order to give time to ensure safety. The decision to pause drilling for oil in the Chukchi and Beaufort Seas off Alaska was widely expected, following a catalogue of problems last year.
Spanish energy giant Repsol SA said Tuesday that it agreed to sell a package of liquefied natural gas assets to Royal Dutch Shell Plc in a transaction valued at 6.65 billion dollars. Shell will pay 4.4bn in cash and assume 2.25bn in debt, Repsol said in a regulatory filing.
Transocean Ltd. today announced on Monday it has been awarded 10-year contracts for four new build dynamically positioned ultra-deepwater drill-ships by Royal Dutch Shell (Shell).
Venezuela's opposition accused the government on Wednesday of turning a blind eye to neighbouring Guyana's oil exploration in a border region claimed by Venezuela, potentially inflaming a territorial dispute that dates back more than a century.
Royal Dutch Shell has said it will launch a major investment drive in an effort to boost falling production. The oil giant said it would spend 30bn dollars on new oil and gas projects this year, compared with 24bn in 2011.
Chilean conglomerate Quinenco SA announced Tuesday it completed the purchase of Royal Dutch Shell PLC's local business for 633 million US dollars.