A feasibility study exploring options for overhauling the Grangemouth refinery in Scotland is reportedly set to propose £3.8 billion of investments in low-carbon alternatives for the site over ten years.
A Dutch court has overturned a landmark ruling against Shell that would have forced the oil company to reduce emissions produced by its petrol customers.
A planned purchase by Prax Group of Shell’s 37.5% stake in the Schwedt refinery in Germany is being delayed by “pending lawsuits by third parties,” according to a report from Reuters.
Russia’s crude exports edged higher in the week to May 19, as Moscow prepares to replace a ceiling on overseas shipments with a production limit favored by its OPEC+ partners.
Shell Plc (LON: SHEL) agreed to sell its stake in the Schwedt refinery, a plant that supplies much of eastern Germany with fuel and has been caught up in Europe’s standoff with Moscow over the war in Ukraine.
Essar said hydrogen and biofuels are becoming globally significant fuels. “The UK is positioned strongly to spearhead the rapid growth of the European low carbon fuels market,” it said. “The UK already benefits from an advanced regulatory and policy framework to support low carbon energy production”.
TotalEnergies has denied a role in fuelling Russian fighter jets in their attacks in Ukraine, in response to allegations published today by France’s Le Monde.
TotalEnergies has reported net income of $5.69 billion, up more than two and a half times from the first quarter, driven largely by its downstream and chemicals operations.
UK drivers face “range anxiety” as a result of fuel shortages, while a cold winter could push Brent prices to $100 per barrel, BofA Securities has warned.