Advertisement
UK markets closed

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     

  • AIM

    755.28
    +2.16 (+0.29%)
     

  • GBP/EUR

    1.1679
    +0.0022 (+0.19%)
     

  • GBP/USD

    1.2494
    -0.0017 (-0.13%)
     

  • Bitcoin GBP

    50,433.11
    -1,021.14 (-1.98%)
     

  • CMC Crypto 200

    1,304.48
    -92.06 (-6.59%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     

  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,161.01
    +243.73 (+1.36%)
     

  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     

Shell pulls out of gas-to-liquids project in Gulf Coast

Reuters - UK Focus

Dec 5 (Reuters) - Royal Dutch Shell Plc (Xetra: R6C1.DE - news) said it would not move forward with its proposed 140,000 barrel per day Gulf Coast gas-to-liquids (GTL (BSE: GTL.BO - news) ) project in Louisiana, despite ample supplies of natural gas in the area.

Shell (LSE: RDSB.L - news) said it would suspend any future work on the project as GTL was not currently a viable option in North America for the company.

The company cited development costs and the uncertainty of oil and gas prices in the long term as reasons for scrapping the project.