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News  ›  Benzinga

Shell Plans $1 Billion Angola Oil Investment During Offshore Exploration Push: Report

Benzinga Logo Benzinga By Lekha Gupta
Shell Plans $1 Billion Angola Oil Investment During Offshore Exploration Push: Report

Shell plans to invest approximately $1 billion in new oil blocks in Angola, securing exclusive exploration rights for offshore blocks to boost production in the southern African nation.

Insights
UPS   neutral

Improved revenue guidance for holiday quarter, indicating potential positive market conditions


SHEL   positive

The company is expanding its exploration portfolio, securing new offshore blocks and investing $1 billion in Angola, indicating strategic growth and commitment to production expansion