This week’s top Shell stories

Shell news
Shell news

Energy giant Shell was at the front and centre of some massive announcements this week that sent shockwaves through the oil and gas industry.

After lengthy speculation the Anglo-Dutch firm finally announced the $3.8billion sale of it’s North Sea assets to Chrysaor.

The package includes Shell’s interests in the Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster, Everest, Lomond and Erskine fields, plus a 10% stake in Schiehallion development.

The Press and Journal’s Energy editor Jeremy Cresswell was one of the first to hail the handover as a “terrific deal”.

He gave his insight into how much City sources knew about the deal and the movers and shakers who made it happen.

Hot on the heels of the announcement was Shell’s fourth quarter and full year results for 2016.

CEO Ben van Beurden said the supermajor was “streamlining its portfolio” following the landmark $52billion takeover of BG last year.

Van Beurden was also quick to comment that the asset sale did not signal the end of the energy giant’s involvement in the North Sea but warned of nostalgia.

The chief executive also said he did not anticipate any significant implications from Brexit.

And finally it was outgoing chief financial officer Simon Henry who urged the fourth estate to “speak the truth“.

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