Shell writes down Namibia oil discovery in blow to country
2 days ago · LONDON, Jan 8 (Reuters) - Shell (SHEL.L), opens new tab will write down around $400 million over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern ...
Shell writes down $400m on unviable oil discovery in Namibia
2 days ago · Shell has determined that an oil discovery off the coast of Namibia is not commercially viable, leading to a projected write-down of around $400m (£325.52m), reported Reuters.. This decision is a ...
Shell’s $400 million write-down dashes Namibia’s oil industry hopes
2 days ago · Although Shell and TotalEnergies had announced discoveries of at least 11 billion barrels of light oil and 8. 7 trillion cubic feet of gas in Namibia’s Orange basin as of August 2023, the oil ...
US$400 million write-down not a complete walkaway - Shell | nbc
Shell Namibia says the US$400 million write-down of its petroleum exploration license, PEL 39, is not a complete walkaway from the asset but rather a normal accounting procedure. This comes after reports that Shell has written down the resources, which …
Shell Downplays Namibia's Oil Discovery As A Blow To
2 days ago · Shell has written down $400 million in oil discoveries offshore Namibia, which it considered commercially unviable. This is a major blow to Namibia's attempts to become a crude-producing country. Shell said that the oil and gas reserves discovered in Namibia's offshore block PEL39 "cannot be commercially developed at this time."
Shell write down not a setback, we will soldier on – Alweendo
19 hours ago · The Minister of Mines and Energy, Hon Tom Alweendo announced that the decision for multi-national oil and gas company Shell to write down N$400 million on the Orange Basin oil discovery, will not significantly impact Namibia’s oil and gas exploration scenario. Alweendo said this is not a setback.
Shell Hits Snag Offshore Namibia, Records $400M Financial Write …
2 days ago · Shell plc SHEL, the British oil and gas major, has stated that it will record a financial write-down of nearly $400 million over an offshore oil discovery in Namibia.The company has found the oil ...
Shell Writes Off Namibia Oil Wells, Still Exploring in Country
1 day ago · Shell Plc is still seeking commercial pathways to oil production in Namibia after writing off about $400 million of wells in the southern African country, where multiple energy majors have been excited about large discoveries offshore. “The discovered resources cannot currently be confirmed for commercial development, and as such, we are required to class the discovered resources as ...
Orange basin bubble bursts as Shell says its Namibia discoveries …
1 day ago · This news has burst Namibia’s exploration bubble and will be a big blow to the government, which had been pressing Shell — and others — to fast-track production from their many discoveries ...
Shell writes down Namibia oil discovery in blow to country - MSN
By Ron Bousso LONDON (Reuters) -Shell will write down around $400 million over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country's ...
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