Oil company Royal Dutch Shell Plc said it has suspended operations at its Bajada de Añelo site in Argentina's Vaca Muerta area after seismic activity in the region. Photo: File
Oil company Royal Dutch Shell Plc said it has suspended operations at its Bajada de Añelo site in Argentina's Vaca Muerta area after seismic activity in the region. Photo: File

Shell suspends operations in Argentina's Vaca Muerta area after seismic activity

By Eliana Raszewski Time of article published Jun 7, 2020

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INTERNATIONAL – Oil company Royal Dutch Shell Plc said it has suspended operations at its Bajada de Añelo site in Argentina's Vaca Muerta area after seismic activity in the region.

Shell, which operates the block along with local state oil firm YPF, said in a statement late on Saturday that the preventative suspension of activities came after seismic movements were registered in an area of Argentina's Neuquén province near the Andes mountains bordering on Chile.

"We are evaluating the information available and the evolution of the situation over the weekend to decide on Monday how to continue. We will resume activities when we consider that conditions are appropriate," Shell said in a statement.

Shell operates other areas in Vaca Muerta, a huge region of unconventional hydrocarbons including the Cruz de Lorena, Sierras Blancas, Aguila Mora, and Coirón Amargo Suroeste blocks. The firm did not mention any other suspensions.

Argentina's oil sector has already seen production stall due to a nationwide lockdown and plunge in global demand due to the novel coronavirus pandemic.

Shell, is a Dutch-British oil and gas company headquartered in the Netherlands and incorporated in England. It is one of the oil and gas “supermajors” and the third-largest company in the world measured by 2018 revenues – and the largest based in Europe.

In the 2019 Forbes Global 2000, Shell was ranked as the ninth-largest company in the world, and the largest energy company.

Shell was first in the 2013 Fortune Global 500 list of the world's largest companies; in that year its revenues were equivalent to 84 percent of the Dutch national $556 billion GDP.

BUSINESS REPORT

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