Shell Plans $1 Billion Angola Oil Investment During Offshore Exploration Push: Report

Group 1 - Shell PLC plans to invest approximately $1 billion in new oil blocks in Angola to enhance production levels that have declined over the years [1] - The investment will focus on offshore Blocks 19, 34, and 35, along with 14 additional ultra-deepwater blocks, as part of an exclusive exploration rights deal with Angola's National Agency for Oil, Gas and Biofuels [2] - Shell's recent activities in Angola include a deal for Block 33 in the Lower Congo Basin, marking the company's return to the nation [3] Group 2 - Shell and Chevron have reduced oil and gas production at a major field in Kazakhstan due to a Ukrainian drone attack that impacted the Orenburg gas processing plant in Russia [4] - Shell has approved the final investment decision for the HI gas project in Nigeria, which aims to produce 350 million standard cubic feet of gas per day [4] Group 3 - In the third quarter of fiscal 2025, Shell reported adjusted earnings of $1.86 per American Depositary Share, surpassing the consensus estimate of $1.71, while revenue was $68.15 billion, falling short of the forecast of $72.81 billion [5] - As of the publication date, Shell shares experienced a decline of 0.47%, trading at $74.56 [5]