BP and Shell have abandoned their investments in renewable energy in Britain, in favour of the United States.
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Shell says oil sands focus on de-bottlenecking
LONDON, Jan 29 (Reuters) – Oil major Royal Dutch Shell Plc (RDSa.L:Quote, Profile, Research) said its focus in the Canadian oil sands industry was on improving the functioning of its existing facilities rather than sanctioning new projects.
Chief Financial Officer Peter Voser said on a call with reporters on Thursday that cash costs in oil sands, including energy costs, is around $38/barrel.
(Reporting by Tom Bergin; Editing by Mike Nesbit)
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Exxon Goes Shopping?
Exxon now has money to burn, a move possible With $40 billion in cash, Exxon Mobil could be poised to buy out or merge with one of its struggling competitors. Oil giants like Chevron, BP, Royal Dutch Shell, ConocoPhillips and Exxon itself face weak fourth-quarter profits and oil-prices remain depressed, so a major merger or acquisition is possible, analysts say.
