Less Ads, More Data, More Tools Register for FREE

Pin to quick picksShell Share News (SHEL)

Share Price Information for Shell (SHEL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,711.00
Bid: 2,713.00
Ask: 2,714.00
Change: -13.00 (-0.48%)
Spread: 1.00 (0.037%)
Open: 2,724.50
High: 2,734.50
Low: 2,707.00
Prev. Close: 2,724.00
SHEL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Dutch Senate delays Groningen gas field shutdown

Wed, 03rd Apr 2024 12:10

AMSTERDAM, April 3 (Reuters) - The Dutch Senate has postponed a vote on a law to close permanently the Groningen gas field, angering the government that has said production would never resume because of the risk of earthquakes.

Normal gas production at Groningen in the north of the Netherlands ended last October after years of output cuts to limit seismic activity, linked to decades of extraction, that has damaged thousands of buildings.

The gas field, once one of Europe's main suppliers, was available for limited production during a cold snap in recent months, but the government has proposed a law that would close the field entirely by Oct. 1.

Although backed by the Lower House of parliament last month, several Senate factions on Tuesday said they needed more guarantees that the law would not jeopardise the security of the country's gas supply.

"This could delay the final decision by a year and a half, which makes me angry," Hans Vijlbrief, mining state secretary, told a parliamentary hearing on Wednesday.

Vijlbrief said he would resign unless the Senate changed its mind quickly.

"Security of supply would only possibly be at risk in case of two very cold winters in a row, a chance that is estimated at 1 in 80,000," Vijlbrief said. "I trust there is a misunderstanding and that we will see a final Senate decision soon."

Among those asking to postpone the vote were three of the four parties that are trying to form a government, including the nationalist PVV party that won the November 2023 election and the centre right VVD of outgoing Prime Minister Mark Rutte.

Without the law, gas production could theoretically resume. Lower House lawmakers on Wednesday said they feared a considerable delay and ongoing uncertainty for people living in the region.

Rutte's caretaker government, in charge until a new government is formed, has repeatedly said it will not resume gas production at Groningen under any circumstance.

VVD lawmaker Silvio Erkens on Wednesday also said the decision to end gas production would not be reconsidered.

"But the Senate has the right to ask for more information," he added.

Shell and ExxonMobil, whose NAM joint venture operates the field, have asked an arbitration court to decide whether the Dutch state should compensate them for the ending of gas production at Groningen, which still contains huge reserves.

Gas profits have delivered an estimated 363 billion euros ($391.13 billion) to the Dutch treasury since production started in the 1960s, while Shell and Exxon's profit from Groningen was around 66 billion euros during that period. ($1 = 0.9281 euros) (Reporting by Bart Meijer; editing by Barbara Lewis)

More News
2 Apr 2024 15:22

London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

Read more
2 Apr 2024 12:29

Shell back in court in landmark Dutch climate case

(Alliance News) - Shell PLC squared off against seven environmental groups in a Dutch appeals court Tuesday, with climate activists accusing the London-based oil and gas company of failing to implement a landmark 2021 judgement.

Read more
2 Apr 2024 11:00

Biden administration approves eighth US offshore wind project

WASHINGTON, April 2 (Reuters) - The U.S. Interior Department on Tuesday approved the country's eighth commercial-scale offshore wind project, which will be built off the coast of Massachusetts, bringing online electricity to power more than 900,000 homes.

Read more
2 Apr 2024 09:09

LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

Read more
2 Apr 2024 08:55

European oil stocks gain on expectations for higher demand, supply concerns

Read more
28 Mar 2024 10:00

How the oil industry is thriving despite Joe Biden's climate policies

GRAPHIC on Biden's oil boom: https://www.reuters.com/graphics/USA-BIDEN/OIL/lgpdngrgkpo/

By Nichola Groom, Jarrett Renshaw

Read more
27 Mar 2024 18:41

IKAV, VTTI buy majority stake in Italy's biggest LNG terminal

Exxon, QatarEnergy sell stakes in Italy LNG terminal

*

Read more
27 Mar 2024 09:01

Big Oil's climate planning not good enough, investor group says

Climate Action 100+ assessed 10 top oil companies

*

Read more
27 Mar 2024 08:31

Big Oil's climate planning not good enough, investor group says

Climate Action 100+ assessed 10 top oil companies

*

Read more
26 Mar 2024 10:17

Gazprom's unit buys former Shell stake in Sakhalin Energy for $1 bln

MOSCOW, March 26 (Reuters) - Kremlin-controlled energy giant Gazprom has acquired a 27.5% stake, formerly owned by Shell, in Russian liquefied natural gas (LNG) producer Sakhalin Energy for around $1 billion, according to a government order.

Read more
26 Mar 2024 07:14

Gazprom's unit buys former Shell stake in Sakhalin Energy for $1 bln

MOSCOW, March 26 (Reuters) - Kremlin-controlled energy giant Gazprom has acquired a 27.5% stake, formerly owned by Shell, in Russian liquefied natural gas (LNG) producer Sakhalin Energy for around $1 billion, according to a government order.

Read more
25 Mar 2024 16:51

LONDON MARKET CLOSE: Renewed global tensions put pressure on stocks

(Alliance News) - Stock prices in London started the week in bad shape and closed lower on Monday, as investors sat on their hands amid rising global tensions.

Read more
22 Mar 2024 08:59

LONDON BROKER RATINGS: RBC cuts St James's Place; HSBC cuts Ascential

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
19 Mar 2024 20:08

DIRECTOR DEALINGS: Darktrace strategy chief sells GBP4 million shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Tuesday and not separately reported by Alliance News:

Read more
19 Mar 2024 16:57

LONDON MARKET CLOSE: European large-caps rise on eve of Fed decision

(Alliance News) - Blue-chip stock prices in Europe closed higher on Tuesday, showing little signs of nerves ahead of Wednesday's Federal Reserve decision and UK inflation reading.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.