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Bullish on natural gas, Shell announces new North Sea investment

Bullish on natural gas, Shell announces new North Sea investment

Business
Oct. 10 (UPI) -- Shell United Kingdom Ltd. announced on Wednesday an investment decision in the North Sea to develop a gas field, just a day after Royal Dutch Shell CEO said the group was bullish regarding expectations of natural gas demand growth. The company announced a "final investment decision for the Arran gas and condensate field" and said that it will become the operator of the project, in partnership with Rockrose Energy and Dyas U.K. Ltd. This is the fourth investment announcement by the company in the North Sea in 2018 "which will result in further production growth for Shell following the decision to redevelop the Penguins field in the northern North Sea, the Alligin field West of Shetland and the Fram field in the Central North Sea." At peak production, the area will produce ...
Medico contracted by Army for mortar shell bodies

Medico contracted by Army for mortar shell bodies

Business
Dec. 28 (UPI) -- Medico Industries has been awarded a $ 191 million contract by the U.S. Army to manufacture and deliver 60mm and 81mm high fragmentation and non-high fragmentation mortar shell bodies.The deal was announced Wednesday by the Department of Defense under the terms of a firm-fixed-price contract, meaning if Medico Industries accumulates overrun costs while working on the contract, the U.S. government will not reimburse those company losses.The M224 60mm Lightweight Mortar is a smooth bore, muzzle-loading, high angle of fire weapon used by conventional and special operation forces for close indirect fire support of ground troops.Similarly, the 81mm mortar is classified as a medium-weight mortar that has the same characteristics and mission as the 60mm mortar system.Work on the ...
Market Chatter: Exxon Mobile, Shell Reportedly Win Oil Blocks in Brazil at Auction

Market Chatter: Exxon Mobile, Shell Reportedly Win Oil Blocks in Brazil at Auction

Finance
Shutterstock photoRoyal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (XOM.N) won blocks in Brazil's pre-salt oil region at an auction on Friday, Reuters reported.Shell won two of the initial four blocks under the hammer as part of consortia and Exxon, in a consortium with Norway's Statoil ( STO ) and Portugal's Petrogal, a unit of Galp Energia (GALP.LS), won another, according to the report.There were no bids for the fourth block, and another four blocks will be auctioned later on Friday, it said.The eight blocks on offer contain a total of more than 12 billion barrels of estimated oil reserves, according to the report.The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.Copyright (C) 2016 MTNewswires.com. All r...