Shell has begun production at Phase 4 of its Sabah deepwater oil project in Malaysian and Bruneian waters, it said on Friday.

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Shell plc (NYSE:SHEL) reported a significant drop in its annual profits for 2024, posting adjusted earnings of $23.72 billion for the full year, compared to $28.25 billion in 2023.

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Shell has started first oil production from the next development phase of a deepwater oil project offshore Malaysia, the UK-based supermajor said on Friday as Europe’s largest oil and gas ...