business / news / / The Sunday Times
The Strait of Hormuz, which carries about a fifth of the world’s supplies of oil and gas, has been effectively closed since the conflict in the Gulf broke out.
Shell will keep oil production flat at 1.4 million barrels a day until 2030.
KEY POINTS
- Shell's $16 billion deal to acquire Arc Resources will add 370,000 barrels daily to output.
- Shell expects global liquefied natural gas demand to grow 54–68% by 2040 from last year.
- Only 13% of shareholders supported the Follow This resolution demanding more climate scenario disclosure.
- Shell's adjusted profits in Q1 rose 23% year-on-year to $6.9 billion, doubling the previous quarter.
COMPANIES
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