03:01 PM EDT, 04/03/2024 (MT Newswires) -- Shell (SHEL) and Exxon Mobil ( XOM ) will have to wait longer for a final decision on their joint venture-operated Groningen gas field as the Dutch Senate postponed a vote to permanently close the field, Reuters reported Wednesday.

The field was available for production on a limited basis in recent months but the government proposed legislation that would shut the field down by Oct. 1, according to the report.

"This could delay the final decision by a year and a half," Hans Vijlbrief, Netherland state secretary for the extractive industries, reportedly told a parliamentary hearing.

The companies have approached an arbitration court for a decision on compensation in case gas production is halted at Groningen field, the report added.

Neither Shell nor Exxon immediately responded to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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