Shell had been spending heavily in offshore wind, aiming to leverage its experience extracting oil and gas at sea to become a leader in the technology. But soaring costs in the sector and a renewed focus on driving returns for shareholders under CEO Wael Sawan has led the company to back away from the energy source.
Velesto wins jackup rig contract for Hibiscus Malaysia drilling campaign
Velesto Energy has secured its first asset-light offshore drilling contract from Hibiscus Oil...
