London, June 09, 2025 (Oilandgaspress) –-The Board of Shell plc today announced the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2025 interim dividend, which was announced on May 2, 2025 at US$0.358 per ordinary share.
Shareholders have been able to elect to receive their dividends in US dollars, euros or pounds sterling. Holders of ordinary shares who have validly submitted US dollars, euros or pounds sterling currency elections by June 2, 2025 will be entitled to a dividend of US$0.358, €0.3136 or 26.41p per ordinary share, respectively.
Absent any valid election to the contrary, persons holding their ordinary shares through Euroclear Nederland will receive their dividends in euros at the euro rate per ordinary share shown above. Absent any valid election to the contrary, shareholders (both holding in certificated and uncertificated form (CREST members)) and persons holding their shares through the Shell Corporate Nominee will receive their dividends in pounds sterling, at the pound sterling rate per ordinary share shown above.
Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from June 4 to June 6, 2025. This dividend will be payable on June 23, 2025 to those members whose names were on the Register of Members on May 16, 2025.
Taxation – cash dividend
If you are uncertain as to the tax treatment of any dividends you should consult your tax advisor. Read More
Subsea7 awarded contract offshore Trinidad and Tobago – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a sizeable1 contract by Shell for the Aphrodite gas project offshore Trinidad and Tobago.
The project involves the transportation and installation of subsea equipment at the Aphrodite development, located within Block 5a, at water depths of up to 290 metres.
Project management and engineering activities will begin immediately at Subsea7’s office in Houston, Texas, with offshore operations planned for 2027.
Craig Broussard, Senior Vice President for Subsea7 Gulf of Mexico, said, “Engaging with Shell from the outset has been key to building trust and driving efficiencies. This award in Trinidad and Tobago reflects our growing presence in the region, as well as our ongoing commitment to safe, predictable project delivery while supporting local talent and resources.”
Baker Hughes Rig Count: U.S. -3 to 563 Canada -2 to 112
U.S. Rig Count is down 3 from last week to 563 with oil rigs down 4 to 461, gas rigs up 1 to 99 and miscellaneous rigs unchanged at 3.
Canada Rig Count is down 2 from last week to 112, with oil rigs down 2 to 69, gas rigs unchanged at 43 and miscellaneous rigs unchanged at 0.
International Rig Count is down 67 rigs from last year’s count of 953, with land rigs down 41, offshore rigs down 26
| Region | Period | Rig Count | Change |
| U.S.A | 31 May 2025 | 563 | -3 |
| Canada | 31 May 2025 | 112 | -2 |
| International | May 2025 | 886 | -5 |
Neste’s Shareholders’ Nomination Board appointed The following members have been appointed to the Shareholders’ Nomination Board of Neste Corporation: Director General Maija Strandberg of the Ownership Steering Department in the Prime Minister’s Office of Finland, as the Chair, and Senior Vice President, Investments Timo Sallinen of Varma Mutual Pension Insurance Company and Head of Equities Annika Ekman of Ilmarinen Mutual Pension Insurance Company, as its members. Pasi Laine, the Chair of Neste’s Board of Directors, acts as an expert to the Nomination Board.
According to the Charter for the Shareholders’ Nomination Board, the members of the Nomination Board represent the company’s three largest shareholders. Shareholders entitled to elect members to the Nomination Board are determined annually on the basis of the shareholders’ register as of the first banking day in June in accordance with detailed rules included in the Charter for the Nomination Board.
The Shareholders’ Nomination Board is responsible for preparing and presenting proposals to the Annual General Meeting concerning Board members as well as the remuneration and the number of Board members. The Nomination Board shall forward its proposals to Neste’s Board of Directors by 31 January 2026.
Eni and YPF sign agreement Eni and Argentina’s leading energy company YPF have signed an agreement for the Argentina LNG (ARGLNG) project during the meeting between the President of the Republic of Argentina, Javier Milei, and the Prime Minister of Italy, Giorgia Meloni.
The agreement defines the required steps to reach the final investment decision for the phase of the project that includes the production, treatment, transportation and liquefaction installations of gas through floating units, for a total capacity of 12 million tons of LNG per year.
Argentina LNG is a large-scale integrated, upstream and midstream gas development project designed to develop the resources of the onshore “Vaca Muerta” field and serve international markets. It will export in a phased approach up to 30 million tons per year of LNG by 2030.
Eni was selected as a strategic partner for Argentina LNG due to its specific and distinctive know-how developed during its FLNG projects in Congo and Mozambique and its global leadership in the construction of projects with similar technological requirements. Eni was also chosen for its renowned execution capabilities and recognized time-to-market delivery.
Today’s agreement, which follows the Memorandum of Understanding signed on 14 April 2025, represents a further strategic step forward towards the maturation of the ARGLNG project, in line with Eni’s strategy to promote the energy transition through the development of gas production and achieve carbon neutrality by 2050, whilst enabling the security and competitiveness of global energy supplies.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $64.24 | Up |
| Crude Oil (Brent) | USD/bbl | $66.12 | Up |
| Bonny Light 05/06/25 CBN | USD/bbl | $68.36 | Up |
| Dubai | USD/bbl | $64.47 | Up |
| Natural Gas | USD/MMBtu | $3.75 | — |
| Murban | USD/bbl | $66.22 | Up |
| OPEC basket 04/06/25 | USD/bbl | $65.10 | — |
OPEC+ Fails to Deliver on Output Pledge 411,000 barrels daily that OPEC+ said it would add to oil production in May have not materialized, commodity analysts from Morgan Stanley said.
“Notwithstanding the around 1 million-barrel-a-day increase in production quotas between March and June, an actual increase in production is hard to detect,” the team, led by Martijn Rats said in a note today, as quoted by Bloomberg. “Notably, it does not appear that production in Saudi Arabia has ramped up significantly,” the note also said.
The data Morgan Stanley used to see if there was an actual increase in production included refinery flows, exports, pipeline flows, and inventory change information. Still, the bank believes that OPEC+ would add some 420,000 barrels daily to its crude production in the months between June and September, tipping the market into a surplus.
The surplus situation will be additionally fueled by production growth outside OPEC+, which Morgan Stanley sees at 1.1 million barrels daily, compared with estimated demand growth of just 800,000 barrels daily.
China approves some rare earth export applications China has approved a number of export license applications for rare earth-related items amid surging overseas demand for medium and heavy rare earth elements used in the high-tech manufacturing sector, the Ministry of Commerce said in a recent statement. Trade analysts said this approach seeks to balance China’s resource security interests with its role as a key supplier in the global high-tech value chain, particularly in sectors such as industrial robotics and electric vehicles.
As medium and heavy rare earth elements become increasingly critical to next-generation manufacturing, managing their export through licensing mechanisms allows China to support global innovation while safeguarding domestic supply for key industries, said Mei Xinyu, a researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing.
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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