Shell, Exxon not seeking compensation for end of Groningen gas production

Published 06/25/2018, 02:36 PM
© Reuters.  Shell, Exxon not seeking compensation for end of Groningen gas production
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  • Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM) will not submit a claim for missed revenue due to the Dutch government’s decision to halt gas production at the Groningen field by 2030, the Dutch ministry of Economic Affairs says.
  • The Dutch government said in March it would end gas production at the Groningen field by 2030 in an effort to stop a string of small but damaging earthquakes caused by gas extraction, which will leave ~450B cm of gas in the ground worth an estimated €70B ($81.5B).
  • Now read: The Nest Egg Portfolio: BT Group (LON:BT) Finds A Solution For The Pension Deficit, But The Market Doesn't Like It


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