Shell, Namibia

Shell writes down $400m on unviable oil discovery in Namibia
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 writes down Namibia oil discovery in blow to country
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.
Shell’s $400 million write-down dashes Namibia’s oil industry hopes
Although Shell and TotalEnergies had announced discoveries of at least 11 billion barrels of light oil and 8. 7 trillion cubic feet of gas in Namibia’s Orange basin as of August 2023, the oil major has now said that the discovered oil resources were not viable.
Shell Writes Off Namibia Oil Wells, Still Exploring in Country
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 excited about large discoveries offshore.
Shell pulls out of Namibia oil discovery
Shell will write down around $400m over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the country's efforts to become a crude producer. Shell told Reuters that discovered oil and gas resources in offshore block PEL39 in Namibia "cannot currently be confirmed for commercial development."
Shell exploring other opportunities in Namibia despite $400m write-off
Shell and its partners in Namibia were now exploring other opportunities and pathways towards development of oil and gas offshore of Namibia.
Shell downplays Namibia's oil discovery as a blow to the country
Shell has written down $400 million in oil discoveries offshore Namibia, which it considered commercially unviable. This is a
Namibia's oil prospects hurt as Shell writes down offshore oil discovery
There have been several oil explorations by major oil conglomerates in the Southern African country of Namibia in recent years. Shell has announced a $400 million write-down related to an offshore oil discovery in Namibia,
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Shell Hits Snag Offshore Namibia, Records $400M Financial Write-Down
SHEL deems the oil discovery located in Namibia's offshore block PEL 39 commercially infeasible for development.
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Orange basin bubble bursts as Shell says its Namibia discoveries are uneconomic
Supermajor says write-off is ‘accounting process’; licence still has oil and gas potential; and looks for other Namibia ...
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Namibia: Shell Write Down Merely a Speed Bump, not a Road Block
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 ...
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🔒 Best of 2024: FT – Oil boom or bust? Namibia’s offshore wells defy the odds
Revisit the remarkable story of Namibia’s offshore oil exploration, where a staggering 88% success rate has shattered ...
Galp Energia Achieves Success in Namibia's Mopane Complex
GLPEY's successful oil and gas discovery in Namibia's Orange Basin sets the stage for more exploration and seismic campaigns.
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Ministry of Mines and Energy Responds to Shell's Orange Basin Write-Down
The Ministry of Mines and Energy emphasizes that Shell's decision to write down the discoveries will not significantly impact ...