Shell to increase renewable energy investments to $1 billion a year

Renewable Energy - Shell Gas Pump

Shell is beginning to move away from oil as public faith in fossil-fuels vanishes Royal Dutch Shell has plans to increase its renewable energy spending to $1 billion annually. Ben van Beurden, CEO of Shell, notes that the faith in the oil industry is disappearing. This is putting greater pressure on the company to move away from its traditional focus on oil and begin showing more support for clean power. Notably, Shell has also expressed support for countries to impose rules to place prices on carbon emissions. According to Shell,…

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Shell abandons arctic drilling operations

The oil and gas giant pulls out of the arctic after achieving only disappointing exploratory results. Royal Dutch Shell announced early last week that it would be walking away from its $7 billion arctic drilling efforts that were taking place in the Chukchi Sea off the northwest coast of Alaska, stating that it had found insufficient oil and gas in its Burger J exploration well, a finding that would not justify the costly development of the operation. Shell’s drilling plans have been suspended indefinitely. According to an article from The…

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