Shell, Namibia

Shell’s $400 million write-down dashes Namibia’s oil industry hopes
Although Shell and TotalEnergies had announced discoveries of at least 11 billion barrels of light oil and 8. 7 trillion cubic feet of gas in Namibia’s Orange basin as of August 2023, the oil major has now said that the discovered oil resources were not viable.
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 Writes Off Namibia Oil Wells, Still Exploring in Country
Shell Plc is still seeking commercial pathways to oil production in Namibia after writing off about $400 million of wells in the southern African country, where multiple energy majors have been excited about large discoveries offshore.
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'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,
Upstream20h
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 ...
Galp CEO Resigns Amid Ethics Probe at Portuguese Oil Firm
Galp Energia SGPS SA Chief Executive Officer Filipe Silva resigned after just two years in the role as the Portuguese oil ...
Hosted on MSN7d
Galp announces additional oil and gas find in Namibia’s Mopane field
The PEL 83 Joint Venture partners have revealed an additional oil and gas condensate discovery in the Mopane field in Namibia ...
Upstream3d
Galp starts drilling latest Namibia exploration well
Mopane-3X probe to test two reservoirs, as Upstream gleans further information on just-completed Mopane appraisal well ...
Rigzone2d
Galp Says CEO Resigned for Family Reasons
The resignation comes as Galp's ethics committee probes an anonymous tip about an alleged personal relationship between ...
Nasdaq7d
Galp Energia Achieves Success in Namibia's Mopane Complex
Galp Energia, SGPS, S.A. GLPEY, a Portuguese integrated energy firm, recently announced a remarkable discovery of oil and gas in Namibia's Orange Basin under its Petroleum Exploration License 83 ...
Galp Energia & Harbour Energy Discoveries Headline Oil & Gas Stock Roundup
CEO Jensen Huang told Yahoo Finance that Nvidia is racing to get its next-gen Blackwell chips 'into every data center in the world.' Shares of the chip giant reversed course, falling as much as 5% ...
Upstream1d
Galp CEO’s sudden departure may hit timeline for Namibia farm-down, say analysts
Filipe Silva resigned with immediate effect, with Portuguese major in process of drilling new exploration wells at Mopane ...