Shell has formally requested to withdraw from Syria’s largest producing asset, the al-Omar oilfield, citing evolving geopolitical conditions and the government’s reassertion of control over the eastern Deir Ezzor region. The field, which has averaged production of approximately 100,000 barrels per day in recent months, has been operated under a production sharing agreement since 2018. Under the exit plan, Shell intends to transfer its 27.6% stake to Syria’s state-owned Syrian Petroleum Company, with the balance held by Dutch firm Gulfsands Petroleum (58.4%) and local partner Naftiran Intertrade (14%). U.S. independents including Delta Crescent Energy and Matador Resources have signaled interest in acquiring rights to the asset, reflecting growing appetite for Middle East upstream opportunities as global supply dynamics shift.

In a move to streamline its major capital program, Shell confirmed that Robin Mooldijk, president of Projects and Technology, will step down effective February 28 after nearly 20 years with the company. Mooldijk has overseen development of projects totaling over $150 billion in investment commitments, including the Prelude FLNG vessel and the Pearl GTL train in Qatar. He will be succeeded by Maria Campos, currently head of Shell’s Integrated Gas business in Asia-Pacific. The reshuffle forms part of a broader executive committee reorganization designed to accelerate delivery of Shell’s $40 billion net-zero investment plan through 2030 and improve project cycle times by up to 20%.

Shell and Japanese partner Mitsubishi are evaluating partial divestments of their combined 60% equity interest in the LNG Canada joint venture, which operates a two-train export terminal with 14 million tonnes per annum (mtpa) capacity on Canada’s west coast. Shell holds a 40% share and Mitsubishi 20%, while remaining stakes are held by PetroChina, KOGAS, Indian Oil and Sinopec. Discussions have considered selling up to 10% of the project to institutional investors seeking stable, long-term cash flows, with target internal rates of return in the 8%–10% range. Proceeds from any sale would be redeployed to fund Shell’s planned $10 billion expansion of its LNG portfolio, including potential new trains in Mozambique and Qatar.