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Shell Companies News

28 Aug 2023

AET Delivers LNG Dual-Fuel VLCC to Shell

EAGLE VELLORE: AET's newest LNG dual-fuel VLCC Eagle Vellore was named today in Malaysia. Image courtesy AET

AET delivered its newest vessel, the first of three Very Large Crude Carrier (VLCC) powered by dual-fuel liquefied natural gas (LNG) engines, on long-term charter to Shell Tankers (Singapore) Private Limited.The Malaysian-flagged Eagle Vellore was named at a ceremony at the MMHE Pasir Gudang yard, attended by the Deputy Minister of Transport, Malaysia and other Malaysian government officials. The naming of the 300,000 dwt tanker in Malaysia marks an important milestone for AET…

17 Jan 2023

Venezuela's PDVSA Freezes Most Oil Exports for Contract Reviews

© poonsit / Adobe Stock

The new head of Venezuela's state oil company PDVSA has suspended most oil export contracts while his team reviews them in a move to avoid payment defaults, according to an internal document seen by Reuters and people familiar with the matter.Since U.S. trading sanctions were first imposed on PDVSA in 2019, the company has increasingly resorted to little known middlemen to allocate its oil exports, leading to big price discounts and problems with payments affecting its cashflow.The freeze order is leading to port delays…

21 Apr 2021

Shell Puts Hydrogen Fuel Cell to the Test in Singapore

(Photo: Shell)

Shell will collaborate on a feasibility study to trial the use of hydrogen fuel cells for ships, the first of its kind for Shell and in Singapore.“This trial is an important step in demonstrating the applicability of hydrogen and fuel cells on ships,” said Nick Potter, General Manager of Shell Shipping and Maritime, Asia Pacific & Middle East. “We see fuel cells and hydrogen as a promising pathway for decarbonizing shipping and working with partners in this way will develop our understanding of this critical technology.”Shell…

04 Mar 2021

Subsea Miner DeepGreen to Go Public Via $2.9 Billion SPAC Deal

(File photo: DeepGreen)

DeepGreen Metals, an EV battery metals maker, said on Thursday that it will be acquired by blank-check firm Sustainable Opportunities Acquisition Corp in a $2.9 billion deal.The deal will consist of a $330 million private investment from investors along with Allseas, adding to the list of existing strategic investors such as Maersk Supply Service and Glencore.Vancouver-based DeepGreen intends to produce metals from polymettalic rocks, found in deep oceans, for use in batteries…

29 Dec 2020

UAE Emerges as Hub for Companies Helping Venezuela Avoid US Oil Sanctions

In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade.Within weeks, a little-known company based in the United Arab Emirates took over management of several tankers that had been shipping Venezuelan oil. The vessels got new names. And then they resumed transporting Venezuelan crude.The company, Muhit Maritime FZE, is one of three UAE-based entities identified by Reuters that have shipped Venezuelan crude and fuel during the second half of this year. Their role emerges from an examination of internal shipping documents from Venezuela’s state oil company as well as third-party shipping and vessel tracking data.

10 Nov 2020

Phantom Buyers in Russia, Advice from Iran Help Venezuela Skirt Sanctions

On Aug. 21, a tanker called the Otoman docked at the Jose oil terminal on Venezuela’s coast in the Caribbean to load 1.82 million barrels of heavy crude, according to the state oil company’s internal documents.Yet no tanker with that name is registered in major global shipping databases.Muddying the situation further, the unique identifier for the Otoman listed in the documents - a number used by the International Maritime Organization to identify ships - was assigned to another tanker called the Rubyni, according to the databases.The Rubyni was broken up two years ago, they record. Satellite images provided by TankerTrackers.com, an independent vessel tracking service…

04 May 2020

Venezuelan Oil Exports Rose in April

© MENZHILIY ANATOLY / Adobe Stock

Venezuela's oil exports ticked higher in April after falling in March to their lowest average in seven months, helped by new trading partners that were re-selling cargoes in Asia, according to documents from state-run PDVSA and vessel tracking data.Venezuela shipped 31 cargoes of crude and refined products last month carrying an average of 848,500 barrels per day (bpd), a small increase from the 814,000 bpd the previous month, the data showed.This year, the United States sanctioned…

18 Apr 2016

UASC, Qatargas and Shell Join to Push LNG as Marine Fuel

Qatargas, United Arab Shipping Company (UASC) and Shell signed a Memorandum of Understanding (MoU) to explore the development of LNG as a marine fuel in the Middle East region. This is the second such agreement signed by Qatargas and Shell in as many months and establishes another core partnership within the shipping industry. The MoU was signed by Qatargas chief executive Khalid bin Khalifa al-Thani, UASC chief executive Jorn Hinge and Qatar Shell Companies managing director and chairman Michiel Kool. The partners will continue to work diligently to develop and supply LNG as marine fuel for the merchant fleet before the end of the current decade.

26 Feb 2015

North Korea Reflags Ships to Evade Sanctions

A North Korea shipping company has been renaming and reflagging its vessels so it can evade an arms embargo, a UN report has said. The effort by Pyongyang-headquartered Ocean Maritime Management Company, Ltd. is detailed in the report by a panel of experts that monitors sanctions on North Korea. The report makes clear the challenge of keeping banned arms and luxury goods from a nuclear-armed country with a history of using front companies to duck detection. North Korea is under United Nations sanctions because of its nuclear tests and missile launches. In addition to arms, Pyongyang is banned from importing and exporting nuclear and missile technology and is not allowed to import luxury goods.

26 Nov 2013

Shell Donates Toward Philippine Typhoon Re-building Program

Royal Dutch Shell plc is donating US$2.5 million, in response to the catastrophic typhoon Haiyan that struck the Philippines. The donation from the Shell Group will be used for rebuilding and rehabilitation efforts in the areas badly hit by typhoon Haiyan, as a way of providing long-term assistance for the affected communities. Shell companies in the Philippines (SciP) Country Chairman Edgar Chua said, “The extensive loss of lives and damage to property brought about by Haiyan has again mobilised the local and international community to assist in relief and rehabilitation efforts providing hope for survivors to rebuild their lives. In addition…

25 Jul 2012

Shell Signs New Deals with CNOOC, CNPC

Shell signed two offshore oil and gas Production Sharing Contracts (PSCs) with CNOOC, and a PSC amendment with CNPC for a new development phase for the Changbei gas field in China. Shell has also entered an agreement with CNOOC for its participation in two Shell exploration blocks offshore Gabon, West Africa. The two offshore oil and gas PSCs with CNOOC are for blocks 62/02 and 62/17 in the Yinggehai Basin. Shell, as operator, will apply advanced seismic acquisition and processing technologies to conduct 3D seismic data surveys in the Yinggehai blocks. Shell will cover the costs for the acquisition of seismic data and will use advanced drilling technologies to drill exploration wells during the exploration phase.