Shell will write down around $400m over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country's efforts to become a crude producer.

RTÉ

Ireland

Shell says to writes down Namibia oil discovery

Media Bias/Fact Check

Government of Ireland

Shell will write down around $400 million over an oil discovery offshore Namibia it deemed commercially unviable.

allAfrica

Amadou Mahtar Ba

South Africa

Southern Africa: Blow to Namibia - Shell to Write Down $400 Million On Oil Discovery

Shell will write down around $400 million over an oil discovery offshore Namibia it deemed commercially unviable. This is a blow to the country’s efforts to become a crude producer. Shell told Reuters this week that discovered oil and gas resources in offshore block PEL39 in Namibia “cannot currently be confirmed for commercial development”. Shell and its partners, QatarEnergy and Namibia’s national oil company Namcor, first discovered hydrocarb…

The Namibian

Windhoek

Khomas Region

Namibia

Blow to Namibia: Shell to write down $400 million on oil discovery deemed commercially unviable

Namibia: Shell Write Down Merely a Speed Bump, not a Road Block

Zawya

Shell will write down around $400 million overan oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country's efforts to become a crude producer.Shell told Reuters that discovered oil and gas…

Maritime Reporter

Shell Comes Up Dry Offshore Namibia

The logo of British multinational oil and gas company Shell is displayed during the LNG 2023 energy trade show in Vancouver. Source: Reuters/Chris HelgrenShell will write down around $400m over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the country's efforts to become a crude producer. Shell told Reuters that discovered oil and gas resources in offshore block PEL39 in Namibia "cannot currently be confirme…

bizcommunity.com

Shell pulls out of Namibia oil discovery

The Ministry of Mines and Energy of the Republic of Namibia announces that multinational oil and gas company Shell will write down $400 million on an oil discovery made in Petroleum Exploration License (PEL) 39 in accordance with the company accounting principles. The discoveries were considered commercially unfeasible, with Shell citing technical and geological challenges. …

African Mining Market

Namibia responds to Shell's Orange Basin write-down

Shell exits Namibia oil project with $400M write-down, dampening crude hopes
	
		
			
				
				January 9, 2025			 Posted by:				Quatro Strategies  Categories:				Africa, Oil & Gas   
			No Comments    
			   
	
		   Subscribe to unlock this insight. 
		
			   
		   
		
		
			   START YOUR TRIAL NOWALREADY A MEMBER? 
.vc_custom_1452662201783{margin-right: 0px !important;margin-bottom: 40px !important;margin-left: 0px !important;}.vc_custom_153364…

quatrostrategies.ca

Shell exits Namibia oil project with $400M write-down, dampening crude hopes

Posted by John Donovan: 10 Jan 25 Shell Pops Namibia’s Oil Dream: “Uneconomic” Finds and the Usual Greed-First Spin Shell, the corporate maestro of broken promises and environmental carnage, has graced us with yet another chapter in its saga of disappointment. This time, the scene is Namibia’s Orange Basin, where Shell’s much-hyped oil and gas discoveries have turned out to be—wait for it—uneconomic. But don’t worry, they’ll still keep sniffing …

Royal Dutch Shell Plc  .com

Shell Pops Namibia’s Oil Dream

Energy major Shell has announced that oil discovered offshore Namibia in Petroleum Exploration License (PEL) 39 cannot be currently confirmed for commercial development. As such, the company will write down $400 million, citing technical and geological difficulties encountered at the license. While stakeholders deem this as a ‘blow to the country,’ the African Energy Chamber (AEC) – serving as the voice of the African energy sector – considers t…

Shell says to writes down Namibia oil discovery

Coverage Details

Bias Distribution

Ownership

Similar News Topics

Similar News Topics