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Shell's $400M Write-Down Amid Namibia Drilling Plans

12/12/2025

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Summary

Story summary

Shell plans a drilling campaign in offshore Namibia's PEL 39 starting April 2026 with QatarEnergy and Namcor.
Shell recorded a $400 million write-down on a previously deemed unviable oil discovery.
Energy Transfer has agreements to advance the Lake Charles LNG project in Louisiana, and it expects an investment decision early next year.
Coty faces a leadership change as its shares drop 52% this year, considering sale of its cosmetics business.

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Story summary

Shell plans a drilling campaign in offshore Namibia's PEL 39 starting April 2026 with QatarEnergy and Namcor.
Shell recorded a $400 million write-down on a previously deemed unviable oil discovery.
Energy Transfer has agreements to advance the Lake Charles LNG project in Louisiana, and it expects an investment decision early next year.
Coty faces a leadership change as its shares drop 52% this year, considering sale of its cosmetics business.