Shell plans to boost returns and become a force in green power

Reuters — Royal Dutch Shell outlined plans on Tuesday to boost shareholder returns after 2020, while also increasing spending on oil, gas and power, as it capitalises on years of cost cutting to prepare for a lower carbon future.

While offering sweeteners to investors, Shell also outlined plans to increase spending in the next decade to grow its gas, oil, renewables and power output. The oil sector saw a sharp drop in spending in the wake of the 2014 price crash, but in recent months companies including Exxon Mobil and Chevron have flagged plans to increase spending again.

Shell, the world's second-largest listed oil and gas company after Exxon, cut costs heavily following its 2016 acquisition of BG Group for $53 billion and the 2014 oil crash. That compares with $28-33 billion in free cash flow it expects to deliver by the end of next year. Brent is currently trading just under $61 per barrel.

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

#NkosikhoMbele: Black Twitter drags Shell and BackaBuddy | Cape TimesSince news broke about NkosikhoMbele's goodwill gesture Twitter users have been filled with irritation and disdain for energy company Shell and BackaBuddy. Vele!!!!
Source: IOL - 🏆 46. / 51 Read more »

New economic cluster ministers under pressure as SA faces jobs and energy calamityNewsletter| New economic cluster ministers have been thrown in at the deep end – Eskom is on brink of collapse, unemployment is close to record high, and Stats SA is likely to announce the economy contracted by between 1.5% and 2% during the first quarter DM of Small Business was Cassel Mathale & DM Thabethe was in Toruism Asazi
Source: City_Press - 🏆 7. / 72 Read more »

A combined minerals and energy ministry could work — in theorySA’s anachronistic coal dependence will need to be addressed, as will investors in coal who have shaped the country’s energy path, writes Richard Worthington It worked before, why not now? It was called Department of Minerals and Energy
Source: BDliveSA - 🏆 12. / 63 Read more »

WATCH: How Gwede Mantashe’s extended portfolio may affect energy policyEnergy analyst Chris Yelland talks to Business Day TV about what lies ahead for the country’s energy sector
Source: BDliveSA - 🏆 12. / 63 Read more »

Gwede Mantashe backs coal and nuclear in SA’s energy mixThe mineral resources and energy minister says various technologies must be promoted to restore energy supply security, arguing that nothing must be left out to counter SA's ‘biggest threat’
Source: BDliveSA - 🏆 12. / 63 Read more »

Cameroon's only oil refinery halted, four units damaged after fireFour units are down at Cameroon's only refinery, but the shortage will be covered by imports starting on Tuesday, the energy minister said late on Sunday.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Sasol’s second Lake Charles production unit goes onlineEnergy company’s recent updates show the project is battling to cover its cost of capital, analyst says
Source: BDliveSA - 🏆 12. / 63 Read more »