Shell signals no new offshore wind projects

Quick Summary:

Shell made the comments after updating its staff on a review of the business, which aims to cut costs, simplify the strategy and boost returns.

The company has 2GW of offshore wind either in operation or under construction, and a further 7.9GW of projects in the pipeline.

The oil major has about 3.4GW of renewable energy capacity around the world, enough to power 16mn homes in the UK for a year.

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Article Details

Author / Journalist: Malcolm Moore

Category: MarketsFinanceInvesting

Markets: United StatesNetherlands

Topics: Renewable Generation Projects Power Energy Financial Wind Pipeline Shell Offshore Company

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-04 @ 17:35:49 (16 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 649 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 24123610

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Official Website: ft.com

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