Venezuela's government signed five agreements with ‌Shell to advance oil and gas projects, including the company's participation in the 7 Tcf Loran offshore gas field.

The global oil market is facing its worst supply shock in recorded history. Shell CEO Wael Saw-wan has put a number on it, nearly one billion barrels of crude oil gone missing. That gap is growing every single day.

LONDON, June 10 (Reuters) - Restoring a balanced crude oil market amid heavy inventory drawdowns will take a year and possibly longer, Shell CEO Wael Sawan said on Wednesday. • Sawan told a conference that over 10% of global crude oil production is out due to the Iran war.

Shell may sell offshore wind assets worth more than $1 billion as the oil giant continues shifting capital to LNG.

Shell plans to sell offshore wind farms as it shifts focus back to fossil fuels, continuing its retreat from renewable energy under CEO Wael Sawan.

Venezuela ​signed several ‌agreements with British ​energy ​firm Shell on ⁠Thursday to ​move ​forward oil and gas projects, ​including ​the company's participation ‌in ⁠the coveted 7-trillion-cubic-feet Loran ​offshore ​gas ⁠field,

Shell Plc is preparing to launch a sale of its offshore wind farms in the oil major’s latest move away from renewable energy to focus on its higher-returning fossil fuel business.

The oil giant says the documents ignore the critical context of the complex operating environment at the time.

The Merlin-1X exploration well, which began drilling in April 2026, is the tenth to be drilled under the licence.