LONDON (AP) — Shell has effectively abandoned a plan to cut oil production by 1\u002D2% per year until the end of the decade, instead maintaining output at current…
Ahead of an investor update in New York on Wednesday, Europe’s largest energy company argued that it had already met the target it had set for itself in 2021 through asset sales.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
“We are investing to provide the secure energy customers need today and for a long time to come, while transforming Shell to win in a low-carbon future,” he said in a statement. Oil and gas companies like Shell, London rival BP and others also have spurred anger for posting bumper profits after Russia’s war in Ukraine drove up the price of energy, surging inflation and helping fuel a cost-of-living crisis.
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