Posts

FTG Blog - Shell Loads Oil in Libya for the First Time in Five Years

Shell Loads Oil in Libya for the First Time in Five Years

Royal Dutch Shell Plc, the world’s largest oil trader, is said to have loaded its first crude from Libya in five years over the weekend, adding to evidence of the OPEC nation’s comeback. The cargo on Saturday is for 600,000 barrels of crude from the Zueitina port, according to two people familiar with the matter who asked not to be identified because the information is private. A Shell spokesperson declined to comment on the shipment, but said the company’s Shell International Trading & Shipping “has a history marketing Libyan crudes. We welcome new business opportunities with Libya’s National Oil Corp.” Read more

FTG Blog - Shell and Anadarko mull clean break from Permian venture - executive

Shell and Anadarko mull clean break from Permian venture – executive

Royal Dutch Shell Plc (RDSa.L) and Anadarko Petroleum Corp (APC.N) may let a 10-year joint venture in the oil-rich Permian Basin of Texas expire and split their properties, hoping to speed up development, according to a senior Shell executive.

The divorce and re-parceling of acreage would let each company drill and develop new wells at its own pace in the Permian, which has become the U.S. oil industry’s hottest development area for its low operating costs as crude prices CLc1 hover under $50 per barrel.

Read more