Monday, 24 August, 2020 - 15:47
$2bn estimate for Gorgon, Prelude stoppages
The shutdown of Shell’s Prelude FLNG since February and planned phased shutdowns at Chevron’s Gorgon could hit LNG exports by about $2 billion this year.
Shell is a global group of energy and petrochemicals companies with around 92,000 employees in over 70 countries and territories.
Shell in Australia has had a presence since 1901. Its business in Australia is broadly divided into "upstream" and "downstream". The Upstream business finds, develops and supplies liquefied natural gas (LNG), condensates and liquefied petroleum gas (LPG) to overseas markets and natural gas to domestic customers in Western Australia. The Downstream operations consist of its refining and marketing businesses: manufacturing, supply & distribution, sales & marketing, lubricants, retail, aviation, bitumen, marine and chemicals.
Rank | Company | # | |
---|---|---|---|
1st | - | Chevron | $19.10bn |
2nd | - | Woodside Energy | $13.10bn |
3rd | - | Shell | $2.59bn |
5th | - | ExxonMobil | $1.70bn |
6th | - | BP Australia | $2.04bn |
Rank | Company | # | |
---|---|---|---|
11th | ![]() |
Mineral Resources | $4.00bn |
12th | ![]() |
CITIC | $3.86bn |
14th | ![]() |
Shell | $2.17bn |
15th | ![]() |
Iluka Resources | $1.53bn |
Rank | Company | # | |
---|---|---|---|
1st | Woodside Energy | 3550 | |
2nd | Chevron | 1998 | |
3rd | Shell | 840 | |
4th | Santos | 90 | |
5th | Tokyo Gas | 22 |
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The shutdown of Shell’s Prelude FLNG since February and planned phased shutdowns at Chevron’s Gorgon could hit LNG exports by about $2 billion this year.
Shell could shed up to 9,000 jobs globally by 2022 in an effort to save the energy and petrochemical giant about $2 billion annually.
Qatar is moving to reclaim its place as the world’s biggest LNG exporter, potentially jeopardising WA exports.
Kogas wrote down its 10 per cent stake in Prelude FLNG by $US361 million last year, as it reported a $US 304 million loss.
Woodside Petroleum has declared it wants to engage more with the local startup community and plans to invest in promising new technologies.
Production has resumed at Shell’s large Prelude floating LNG platform in northern WA after being held offline for nearly a year.
Oil giant Shell will accelerate near-term and long-term plans aimed at reducing its net carbon emissions intensity to zero by 2050.
Decisions on two big gas projects are due, $12 billion of chemical projects are under consideration, and a decommissioning timebomb awaits.
Shell has largely won a federal court battle in a long running dispute with the Australian Taxation Office over its $2.3 billion purchase of Browse LNG assets from Chevron.
Woodside is making hard work of its simultaneous energy and management transitions.
A second large carbon capture and storage project could be built in the north west, with Woodside Petroleum, BP and Japanese investors to scope a new facility.
Advisers have been appointed for a potential sale of Seven Group’s share of the Crux LNG project, managing director Ryan Stokes has said, while flagging deals around Coates and WesTrac.
WA’s COVID-19 isolation may be keeping the virus at bay, but inflationary forces are building.
The state government and Shell Australia have penned a deal to supply and install boiler training equipment at South Metropolitan TAFE’s Munster facility.
Some major companies have decided the sum of their parts is greater than the whole.
The workforce on Shell’s floating Prelude vessel are safe, the company has said, but production remained on pause today after a fire late last week.
A restart on Shell’s Prelude floating LNG vessel is still some time away, Shell chief executive Ben van Beurden said, with the pandemic making workforce movements more difficult.
BHP has welcomed MV Mount Tourmaline to its fleet, the world’s first LNG-fuelled Newcastlemax bulk carrier which will start transporting iron ore between Western Australia and Asia this year.
WA has a $40 billion investment pipeline in oil and gas, while the Browse project may be gaining momentum.
The Crux gas project adds to a wave of big gas developments in WA, including Scarborough, creating a flashpoint for environmental campaigners.
Shell has been forced to halt production on its Prelude FLNG facility amid escalating industrial action, with the energy giant set to enter peace talks with union officials as early as tomorrow.
Operations on Shell’s Prelude FLNG facility are expected to resume after weeks of industrial action, with the energy giant agreeing to union demands for pay rises and better job security.
A Woodside-led cohort of oil and gas majors has been granted a permit to evaluate the potential of turning a depleted gas field off the coast of Dampier into a carbon capture and storage project .
Workers stepping onto the Prelude FLNG vessel are set to earn $211,000 at a minimum in the deal signed by Shell to end a devastating union battle.
Our weekly appointments wrap includes Simona Chady, Anna Reece, Iain Grandage, Dan McAulley, Donna Nelson, Sandra Eades, Mike Nelson, Paul Laybourne, Lance Malone and Mark Ritter.
As criticism of the government’s energy market intervention settles, Madeleine King is focused on pushing Australian resources to the fore of the global energy transition.
The Greens will back Labor's safeguard mechanism laws after a deal was struck, creating new hurdles for oil and gas projects but helping manufacturers.
Our weekly appointments wrap includes Sharyn O’Neill, Thao Pham, Theresa Mlikota, Cecile Wake, Tony Nunan, Georgia Malone, Danielle Antaki, Monica Kane, Malinda Nixon and Luke Bortoli.
Shell Australia’s Prelude project has caught the attention of the national offshore energy regulator, after a process was found to have put staff at risk of explosion or fire during an inspection in December.
Premier Roger Cook has told WA parliament that the state’s gas supply is secure, despite the looming threat of strike action at offshore platforms operated by major producers.
Woodside Energy has joined other global players in signing the oil and gas decarbonation charter at the COP28 summit in the United Arab Emirates.
The 10 per cent owner of the Shell-operated Prelude floating LNG project reported a post-tax loss of $US3.4 million ($5.2 million) in 2023, despite gross profit of almost $US76 million.
Engineering company Monadelphous has won a series of new resources sector-based contracts worth $120 million.
Shell Australia has launched legal action against Woodside Energy and Paladin Resources, claiming a $86.6 million compensation for the levy it paid over the Northern Endeavour.
Premier Roger Cook has highlighted the need to incentivise investment in the state while playing down the findings an Australia Institute report targeting the lack of royalties paid on LNG in WA.
The remote Djarindjin community is forging its independence with economic empowerment.
Engineering company Monadelphous has secured a major maintenance contract to continue its work on Shell’s floating liquefied natural gas facility.
Simply calling something ‘green’ doesn’t mean much when it comes to convincing a customer to pay more than for a similar non-green product.
An uptick in new work contributed to stronger revenue, with the company expecting sustained demand for its services throughout FY25.
OPINION: It’s becoming obvious Australia has an energy problem as it continues a total focus on renewables.
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Shell is included in 3 lists - Oil and Gas Companies, Foreign-owned Companies and Exporters.