Shell's $13.6B ARC Resources Deal Amid Hormuz Oil Crisis

0:00Yo, the global oil market just took a massive hit from that Strait of Hormuz blockade, wiping out around 900 million barrels of supply in recent months. Shell's CEO is straight up warning this chaos could stretch all the way into 2027, driving gas prices sky high for everyday drivers, hitting the pump. Shell's own first quarter 2026 update shows the pain, with integrated gas production dropping to between 880,000, and 920,000 barrels of oil, equivalent per day, down from 928,000 last quarter, thanks to Middle East. Tensions hitting Katari output, drivers are feeling the squeeze hard, as oil spikes from $71 a barrel in February to 1-03 in March, mean higher gas costs. With a week's long delay, so the full wave hasn't even crashed yet, stockpiles are draining, but man's shifting and relief looks distant. Meanwhile, Shell's dropping $13.6 billion, including $2.8 billion in debt, to snag Canadian

1:02Shale Player ARC, resources adding $370,000 barrels a day, and locking in Canada's Monteney Basin as a key hub. This wasn't a rush job. They ided for two years, and now a boost cash flow from 2027 with double-digit returns. Shell's sitting pretty with $18.5 billion in adjusted earnings, and $43 billion in cash flow from operations last year, plus five. $0.1 billion in cost cuts ahead of schedule, feeling buybacks in a 4% dividend bump. Eyes on their May 7th earnings for the Real Hormuz fallout, as this supply crunch keeps prices elevated for the long haul. People news powered by AI. This is Durham News Today.