Shell writes down Namibia oil discovery in blow to country
Jan 8, 2025 · 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...
Shell’s US$400-million Namibian oil write-off won’t derail …
Jan 12, 2025 · The decision by Shell to write off US$400 million (N$6.8 billion) invested in the exploration of one well in Namibia will not affect the country’s prospects to become a top oil producer in the ...
Shell Hits Snag Offshore Namibia, Records $400M Financial Write …
Jan 9, 2025 · Shell plc SHEL, the British oil and gas major, has stated that it will record a financial write-down of nearly $400 million over an offshore oil discovery in Namibia. The company has found the...
Shell writes down $400m on unviable oil discovery in Namibia
Jan 9, 2025 · 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.
Shell says Namibia discoveries are uneconomic, to take $400M …
Jan 11, 2025 · Scott Barbour/Getty Images News. Shell (NYSE:SHEL) said Thursday its oil and gas discoveries in Namibia's offshore Orange Basin are not commercial, causing it to write down ~$400M toward the cost ...
Blow to Namibia: Shell to write down $400 million on oil …
Jan 9, 2025 · Shell will write down around $400 million over an oil discovery offshore Namibia it deemed commercially unviable. This is a blow to the country’s efforts to become a crude producer.
Shell finds hydrocarbons in Namibia exploration well | Reuters
Jul 12, 2023 · Shell said on Wednesday it had successfully completed drilling a fourth exploration well, Lesedi-1X, in Namibia that confirmed the presence of hydrocarbons.
Deepwater Namibia: Despite Shell’s Write Down There’s Still Lots …
3 days ago · At that time, Shell was operator of Kudu and Texaco had a 15% working interest in the field. Since that time, he has had an abiding interest in Namibia’s oil industry. He closely follows the latest news coming out of Namibia. He has travelled several times in Namibia for business and also as a tourist.
Orange basin bubble bursts as Shell says its Namibia discoveries …
Jan 9, 2025 · Shell’s high-profile oil and gas discoveries in Namibia’s Orange basin are not commercial, spurring the supermajor to write-off the cost of exploration wells in its deepwater licence.
Shell Abandons Namibian Oil Project after $400 Million Investment
Jan 9, 2025 · A major setback has struck Namibia’s aspirations to join the ranks of oil-producing nations as energy giant Shell announces the commercial unfeasibility of its offshore discoveries.
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