Shell

Apache, Qatar, and Shell clinch best discovery, best new venturer, and energy transition leader.

Two of the biggest assets to suffer from the new valuation are in Australia. Shell’s QGC venture and its floating liquified natural gas facility, Prelude, have been reduced in value by up to $9 billion.

An independent study pegged the cost of the project at about $2.6 billion, 80% of which Norway’s government planned to fund. The ministry said there is uncertainty about Northern Lights’ benefits and that it could prove to be unprofitable.

Royal Dutch Shell will announce a major restructuring by the end of the year as the energy company prepares to accelerate its shift toward low carbon, Chief Executive Officer Ben van Beurden told employees, a company source said.

iHawk, Cyberhawk’s cloud-based asset visualization software, will become Shell’s next-generation visualization software platform for all onshore, offshore, and subsea assets, as well as all global construction projects.

The contract continues the two companies’ 8-year working relationship; in 2012, they performed the world’s-first underdeck inspection.

GlassPoint Solar was founded in 2008 to replace the use of natural gas for steamflooding heavy-oil reservoirs. But amid low energy prices, its chief investor has decided to pull the plug for good.

The sale of the Appalachia position is in line with Shell’s strategy to focus on its shales strategy.

The deferments are the latest actions Shell has taken in response to record low crude prices.

The planned JV is for one of three LNG terminals GCL is planning to build in China.