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.

Supermajor says write-off is ‘accounting process’; licence still has oil and gas potential; and looks for other Namibia ...

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 ...

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 ...

Although Shell and TotalEnergies had announced discoveries of at least 11 billion barrels of light oil and 8. 7 trillion ...

The Ministry of Mines and Energy emphasizes that Shell's decision to write down the discoveries will not significantly impact ...

A major setback has struck Namibia’s aspirations to join the ranks of oil-producing nations as energy giant Shell announces ...

Q: What is the Namibian Dollar worth against the South African Rand? A: One Namibian Dollar is worth 1.0007 South African Rands today Q: Is the Namibian Dollar going up or down against the South ...

Wednesday January 08, 2025 - 'The current oil price is totally at the mercy of OPEC+', SEB Chief Commodities Analyst Bjarne Schieldrop said.