![]() In recent decades gas has become an increasingly important part of Shell's business and Shell acquired BG Group in 2016. In 1970, Shell acquired the mining company Billiton, which it subsequently sold in 1994 and now forms part of BHP. In 1964, Shell was a partner in the world's first commercial sea transportation of liquefied natural gas (LNG). Shell was one of the " Seven Sisters" which dominated the global petroleum industry from the mid-1940s to the mid-1970s. Shell first entered the chemicals industry in 1929. The combined company rapidly became the leading competitor of the American Standard Oil and by 1920 Shell was the largest producer of oil in the world. Shell was formed in 1907 through the merger of Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company of the United Kingdom. A core component of Big Oil, Shell is the second largest investor-owned oil and gas company in the world by revenue (after ExxonMobil), and among the world's largest companies out of any industry. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New York Stock Exchange. Shell plc is a British multinational oil and gas company headquartered in London, England. ![]() a formerly known as "the Royal Dutch Company for the Exploitation of Petroleum Wells in the Dutch East Indies".The blockbuster deal would give Exxon a dominant position in the oil-rich Permian Basin, in West Texas and New Mexico, in a takeover that would boost Exxon’s push to increase production of gas and oil. Is closing in on a deal to take over Texan oil and gas company Pioneer Natural Resources for sums of around $60 billion. ![]() The Anglo-Dutch oil major’s positive forecast comes as the Wall Street Journal on Friday reported that Shell’s American rival, Exxon Mobil Shell, which delivered the first ever commercial cargo of LNG from Algeria to the UK in 1964, has pinned hopes for its future on selling the liquified fuel, as it seeks to profit on the global energy transition and the shift from gas to coal. Said the lower production figures are the result of scheduled maintenance in its Trinidad and Tobago operations and at its Prelude floating LNG facility off Australia’s west coast, which has capacity to produce 3.6 million tons of LNG each year. Shell stock rose 0.8% on Friday and has gained 10% this year. The London-listed firm, which was first formed in 1907, told investors it is set to produce between 6.6 and 7.0 million metric tons of LNG in the third quarter, compared to 7.17 million tons of the liquified fuel in the second quarter. Now, Shell has said it expects its earnings to recover in the third quarter, following a slight uptick in natural gas prices in recent months, even as it warned LNG production would be lower due to scheduled maintenance. Lower gas prices saw earnings from Shell’s integrated gas segment fall from $2.4 billion in the first quarter to $754 million, following a bumper year for the energy giant in 2022 caused by soaring fuel prices related to the global bounce back from Covid and the war in Ukraine.
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