Shell, Namibia

Shell writes down Namibia oil discovery in blow to country
Shell will write down around $400 million over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country's efforts to become a crude producer. Shell told Reuters that discovered oil and gas resources in offshore block PEL39 in Namibia "cannot currently be confirmed for commercial development.
Shell says Namibia discoveries are uneconomic, to take $400M writedown
Shell writes off $400M for failed oil and gas discoveries in Namibia's offshore Orange basin, faces technical and geological challenges.
Shell writes down $400m on unviable oil discovery in Namibia
Shell has determined that an oil discovery off the coast of Namibia is not commercially viable, leading to a projected write-down of around $400m (£325.52m), reported Reuters. This decision is a setback for Namibia's ambition to establish itself as an oil producer.
Namibia says Shell write-down of offshore discoveries ‘not a setback’
Namibia’s Mines and Energy Ministry has downplayed the impact of energy company Shell recent $400-million write-down on its offshore oil discoveries, stating that the country it remains committed to developing its hydrocarbon discoveries.
Orange basin bubble bursts as Shell says its Namibia discoveries are uneconomic
Supermajor says write-off is ‘accounting process’; licence still has oil and gas potential; and looks for other Namibia opportunities
Shell downplays Namibia's oil discovery as a blow to the country
Shell has written down $400 million in oil discoveries offshore Namibia, which it considered commercially unviable. This is a
Shell writes down Namibia oil discovery
Shell will write down around $400 million in its fourth quarter results relating mainly to an oil and gas discovery offshore Namibia, the company said on Wednesday. The British company told Reuters that discovered oil and gas resources in offshore block PEL 39 in Namibia "cannot currently be confirmed for commercial development.
Namibia's oil prospects hurt as Shell writes down offshore oil discovery
There have been several oil explorations by major oil conglomerates in the Southern African country of Namibia in recent years. Shell has announced a $400 million write-down related to an offshore oil discovery in Namibia,
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Unhappy Namibia rejects Shell claims that discoveries are not commercial, as it seeks ‘right partner’ to develop them
Energy Minister Tom Alweendo calls Shell's write-down 'unfortunate,' as Namcor says partners want to undertake more ...
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Shell Hits Snag Offshore Namibia, Records $400M Financial Write-Down
SHEL deems the oil discovery located in Namibia's offshore block PEL 39 commercially infeasible for development.
Namibia: Shell Write Down Merely A Speed Bump, Not A Road Block
Energy major Shell has announced that oil discovered offshore Namibia in petroleum Exploration License (PEL) 39 cannot be currently confirmed for commercial development. As such, the company will ...
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Shell Starts Production at Gulf Oil Field
Shell begins commercial production at its Whale oil field in the Gulf of Mexico, while writing down a promising oil discovery ...
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🔒 Best of 2024: FT – Oil boom or bust? Namibia’s offshore wells defy the odds
Revisit the remarkable story of Namibia’s offshore oil exploration, where a staggering 88% success rate has shattered ...