Royal Dutch Shell has spent more than $400 million on a range of acquisitions in recent weeks, from solar power to electric car charging points, cranking up its drive to expand beyond its oil and gas business and reduce its carbon footprint.
The scale of the buying spree pales in comparison to the Anglo-Dutch company’s $25 billion annual spending budget. But its first forays into the solar and retail power sectors for many years shows a growing urgency to develop cleaner energy businesses.
The investments are not limited to renewables such as biofuels, solarm and wind. Shell, as well as rivals such as BP, Exxon Mobil, and Chevron, are betting on rising demand for gas, the least polluting fossil fuel, to power the expected surge in electric vehicles in the coming decades.
To that end, Shell agreed in December to acquire independent British power provider First Utility for around $200 million, according to several sources close to the deal. The value of the acquisition had not been previously disclosed.
Shell declined to comment.
Read the full story here.
Don't miss our latest HSE content, delivered to your inbox twice monthly. Sign up for the HSE Now newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
23 - 25 Mar 2021
- Kuala Lumpur, Malaysia
22 May 2020
17 Mar 2020
- Calgary, Alberta, Canada
In this course, discover the field applications of machine learning with a focus on reservoir characterization, production analysis and prediction, and recovery enhancement.
20 Mar 2020
- Bogotá, Colombia
This course provides a fundamental understanding of process safety techniques and how applying these techniques can improve safety, equipment reliability, environmental performance and reduce overall costs.
27 - 28 Apr 2020
- Houston, Texas, USA
Book your seat
28 Apr 2020
- Brisbane, Australia
This one-day session features view on best practices for Carbon Management with a focus on fugitive methane reduction.
30 Apr - 1 May 2020
- Midland, Texas, USA
Book your place
19 May 2020
- Kananaskis, Alberta, Canada
This course focuses on the data preparation and machine learning application on a variety of case of study examples.
HSE Now is a source for news and technical information affecting the health, safety, security, environment, and social responsibility discipline of the upstream oil and gas industry.
©2003-2020 Society of Petroleum Engineers, All Rights Reserved.