Shell (NYSE:SHEL) said Thursday its oil and gas discoveries in Namibia's offshore Orange Basin are not commercial, causing it to write down ~$400M toward the cost of exploration wells in the PEL39 ...

Shell plc SHEL, the British oil and gas major, has stated that it will record a financial write-down of nearly $400 million over an offshore oil discovery in Namibia. The company has found the oil ...

Shell will write down around $400 million over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country's efforts to become a crude producer.

Light oil has been discovered 270 kilometers (km) off the coast of Namibia, according to the National Petroleum Company of Namibia (NAMCOR) and its partners in the Jonker-1X deep-water exploration ...

Shell’s decision to write down about $400 million for an offshore oil discovery in Namibia, which it deemed commercially unviable, is merely a “hump” in the Southern African nation’s oil and gas ...

Shell has spudded its third exploration well offshore Namibia and, in a move that underscores the huge potential of the red-hot Orange basin play, has extended the charter of the rig it has on duty ...