Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

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: 2,772.50
Bid: 2,771.00
Ask: 2,772.00
Change: 12.00 (0.43%)
Spread: 1.00 (0.036%)
Open: 2,760.50
High: 2,784.50
Low: 2,752.50
Prev. Close: 2,760.50
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
17 Apr 2024 13:55

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, urging the energy company to set tighter climate targets.

Read more
16 Apr 2024 22:25

Groningen gas field in Netherlands to shut down as Senate approves law

AMSTERDAM, April 16 (Reuters) - The Dutch Senate on Tuesday approved a law to permanently close the Groningen gas field, following the government's promise that production will never be resumed to limit seismic risks in the region.

Read more
16 Apr 2024 10:00

German oil and gas output falls again in 2023

FRANKFURT, April 16 (Reuters) - Germany's domestic oil production fell 5.9% to 1.6 million metric tons in 2023 while gas output was down 10.4% at 4.3 billion cubic metres (bcm), industry association BVEG said on Tuesday.

Read more
15 Apr 2024 17:10

LONDON MARKET CLOSE: Investors show nerves after Iran launches drones

(Alliance News) - Stock prices in London closed down on Monday, as tensions in the Middle East weighed on investors, with resources sliding as commodity prices fell.

Read more
15 Apr 2024 15:39

London close: Stocks slip on renewed geopolitical tensions

(Sharecast News) - London's equity markets markets experienced a downturn on Monday, with losses particularly notable in the mining and oil sectors, as investors remained cautious amid to escalating geopolitical tensions in the Middle East.

Read more
15 Apr 2024 11:56

LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions

(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.

Read more
15 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 falls as oil lower despite Iran strikes

(Alliance News) - Stock prices in London opened lower on Monday, with a decline in oil prices sending Shell and BP lower, in a cautious start to the week following Iran's strikes on Israel over the weekend.

Read more
12 Apr 2024 16:56

LONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere

(Alliance News) - London's FTSE 100 defied a tricky day for wider markets, as its miners and oil producers shone, while the dollar was supported as odds of the US Federal Reserve enacting three interest rate cuts this year dwindle.

Read more
12 Apr 2024 15:45

Europe's main energy stocks index hits highest since 2008

April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

Read more
12 Apr 2024 11:51

LONDON MARKET MIDDAY: February data spurs end of UK recession hopes

(Alliance News) - Stocks in London got a boost on Monday at midday, as investors were optimistic that the UK is heading out of its short lived recession.

Read more
12 Apr 2024 11:47

Europe's main energy stocks index hits highest since 2008

April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

Read more
12 Apr 2024 11:37

TOP NEWS: BP shares rise after reports Adnoc had pondered takeover

(Alliance News) - Shares in BP jumped on Friday after reports that the state-owned, United Arab Emirates oil company was considering, but had ruled out, a bid for the London-based oil major.

Read more
12 Apr 2024 08:58

LONDON MARKET OPEN: Stocks get boost thanks to growth in UK economy

(Alliance News) - Stock prices in London opened higher on Friday, thanks to new data suggesting the UK economy is out of recession.

Read more
11 Apr 2024 18:51

AstraZeneca CEO could earn 19 million pounds as pay measure clears opposition

Policy approved with two-third of votes in favour

*

Read more
11 Apr 2024 16:48

Europe Distillates-Diesel margins fall to lowest since July 2023

LONDON, April 11 (Reuters) - Northwest European diesel barge margins dropped by around 10% to $21 a barrel on Thursday, their lowest since July 2023, after a rise in regional stocks.

Trades   Bids   Offers  Previous  Seller  Buyer
Session
0.1 GO Barge April
diffs fob ARA -$29.0
per tonne 0
<GO-ED-ARA>
0.1 GO Cargo
diffs cif NWE
per tonne
<GO-CND-NWE>
0.1 GO Cargo
diffs cif Med
per tonne
<GO-CND-MED>
50ppm barge May
diffs fob ARA +$2.0
per tonne 0
<GO50PPM-ED-A
RA>

Diesel Trades Bids Offers Previous Seller Buyer
Session
Diesel barge May -$2 April April Apr
diffs fob ARA to -$4 Flat -$1/+2 -$0.25-+
per tonne .00 $1
<ULSD10-BD-AR
A>
Diesel cargo 2 May Litasc Glenco
diffs cif NWE cargoes +$20.2 o re
per tonne at May 5
<ULSD10-ANYD- $12.50
NWE>
Diesel cargo Med Med
diffs cif Med +$6.0 +$0.75
per tonne 0
<DL-CIFD-MED>

Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel
barge
diffs fob
FARAG
per tonne
<JET-BD-ARA>
Jet fuel CCM CCM
cargo -$4 -+2
cif NWE per
tonne
<JET-CD-NWE>

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