Shell has formally requested to withdraw from Syria’s largest producing asset, the al-Omar oilfield, where it currently holds a 40% operated interest under a service contract. The company’s decision follows recent advances by government forces in eastern Deir ez-Zor province and a reported request by the Syrian Petroleum Company’s head, Youssef Qeblawi, to transfer Shell’s stake to state-owned operators. The move could remove approximately 30,000 barrels per day of production from Shell’s portfolio, representing nearly 2% of its global upstream output, and limit its exposure to ongoing geopolitical and security risks in the region.

Shell announced that Robin Mooldijk, president of Projects and Technology and a 26-year veteran of the group, will step down effective February 28. Mooldijk led the delivery of shell’s Global LNG Train 1 expansion and oversaw capital projects totaling $20 billion in sanctioned value over the past five years. The company’s board has initiated a search for his successor, highlighting the role’s critical importance in executing Shell’s $25 billion annual investment program, particularly in energy transition technologies such as carbon capture and storage and next-generation biofuels.

Shell and partner Mitsubishi Heavy Industries are evaluating partial divestments of their combined 65% equity interest in the LNG Canada project, which reached first cargo in mid-2025. Sources indicate the companies are considering selling up to 20% of the project to institutional investors, potentially raising $5 billion to fund a proposed Phase 2 expansion that could add 14 million tonnes per annum of liquefaction capacity. The deliberations come as global LNG demand is projected to grow by 3.5% annually over the next decade, and investors seek stable, long-term cash flows under Shell’s 10-year offtake agreements with Asian utilities.