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Exclusive: Shell launches major cost-cutting drive to prepare for energy transition

Ron Bousso of Reuters reports that Shell is looking to slash up to 40% of oil and gas production costs in order to focus on renewable energy and power markets.

The C3 Take
  • Shell, as well as many other companies, are shifting from traditional oil and gas to renewable and clean energy.
  • In addition to slashing oil and production costs, Shell is also lowering the number of its oil refineries.

“Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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