Oil News

Wintershall Dea intends to fully exit Russia following a principle decision of the Management Board, approved by the Supervisory Board. The company will leave the country in an orderly manner, complying with all applicable legal obligations. “Continuing to operate in Russia is not tenable” Wintershall Dea CEO Mario Mehren says: “Wintershall Dea will end its Russian activities. Continuing to operate …

CEO Mehren: “Security of supply requires security of demand” In a media call today, Wintershall Dea CEO Mario Mehren calls for more investment in the expansion of the energy industry. That includes more investment in global gas and oil production, as fossil fuels will continue to be needed in the longer term. “Importers need to be able to conclude long-term …

LONDON — Oil giant Shell on Thursday reported its highest quarterly profit since 2008 on soaring commodity prices, fueling calls for a one-off windfall tax on oil and gas companies to help U.K. households with spiraling energy bills. Shell posted adjusted earnings of $9.1 billion for the three months through to the end of March, in line with expectations of analysts polled …

Shell Brasil Petróleo Ltda.(Shell Brasil), a subsidiary of Shell plc, has signed the production sharing contract (PSC) with Petrobras to acquire a 25 % stake of the Atapu field. Shell said that the transaction worth is $1.1 billion and will start receiving its additional share of oil from the field. “This transaction is the latest proof point of our commitment to further …

Prime Minister Mostafa Madbouly held a meeting with the CEO of the Norwegian renewable energy company Scatec Terry Belskog to discuss the first issuance of green bonds to refinance the company’s plants in the Benban Solar Complex. At the beginning of the meeting, Madbouly highlighted the confidence of international financial institutions in the Egyptian economy and the growing partnership with Scatec. This …

Wintershall Dea’s CEO Mario Mehren announced that his company decided to keep its projects in Russia after conducting intensive discussions . This announcement was made during the Wintershall Dea’s press conference for its first quarter results. Mehren confirmed that the company stopped financing new projects in Russia after its attack against Ukraine. He clarified that the company would not leave …