Brazil prosecutors sue Shell for US$108m over deadly 2024 floods

Shell has partially restarted its Pearl GTL plant in Qatar, six months after damage. QatarEnergy resumed naphtha deliveries and offered 50,000 metric tons to the spot market. Full repairs are expected by Q1 2027, with the plant capable of producing 140,000 barrels per day at full capacity. QatarEnergy's LNG expansion project is set to begin operations in November.

Shell plc agreed to buy a 30% stake in the Bay du Nord offshore oil project, with Equinor ASA retaining 70% and remaining the operator. The initial investment is estimated at C$14 billion, but no purchase price for Shell's stake was disclosed. Shell shares closed at US$100.18, while Equinor shares closed at US$43.01 on the last trading day. The project's final investment decision is targeted for early 2027, with first oil expected in 2031, subject to market conditions and regulatory approvals.

Shell will acquire a 30% stake in Equinor's Bay du Nord offshore oil project in Canada, with Equinor retaining 70% and remaining the operator. The project, estimated to cost C$14 billion, aims for a final investment decision in early 2027 and first oil in 2031, with recoverable resources exceeding 400 million barrels.

Shell has acquired a 30% stake in the Bay du Nord oil project offshore eastern Canada, operated by Equinor. This move underscores Canada's importance in Shell's upstream strategy as it reshapes its portfolio.

Australia will introduce legislation to force LNG producers to reserve up to 20% of output for local buyers, aiming to address domestic shortages. The plan, set for next week, has faced industry opposition. Impacted projects include those with Shell, ConocoPhillips, Santos, and Origin Energy. The policy may affect global LNG prices and government revenues.

Shell agreed to take a 30% stake in Equinor's Bay du Nord project, with Equinor retaining 70%. The project, Canada's first deepwater oil development, has estimated costs of C$14 billion and targets a final investment decision in early 2027. Shell claims the investment offers returns above its hurdle rate, but no financial details were disclosed.