Europe’s energy crisis is over, signals Shell boss

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Financial Times 13h ago

Europe’s energy crisis is over, signals Shell boss - Financial Times

Quick Summary:

The oil major also said it had reduced its pipeline of renewable power projects under construction from 4.6GW in the first half of last year to 3.8GW.

Sawan said the loss was “not a massive surprise” because a lot of the unit’s earnings had come from high power prices.

At $40 a barrel, he said Shell would continue to pay its dividend.“$40 to $50 would be a scenario that I don’t think we have seen last for much longer than 12 months at any point in the last couple of decades,” he added.