Anglo-Dutch Company: Shell and Gas

anglo-dutch company: Shell announced in October it would increase its spending on low-carbon energy to 25% of overall capital expenditure by 2025 and the sources said that would translate into more than 5 billion a year, up from 1.5 billion to 2 billion now, according to The Japan Times. The Anglo-Dutch company will, however, keep its overall oil and gas output largely stable for the next decade to help fund its energy transition, though gas is set to become a bigger part of the mix, the sources said. Shell and its European rivals are seeking new business models to reduce their dependency on fossil fuels and appeal to investors concerned about the long-term outlook for an industry under intense pressure to slash greenhouse gas emissions. ; Shell will present its strategy on Feb. 11 and unlike Total and BP, the company will focus more on becoming an intermediary between clean power producers and customers than investing billions in renewable projects, the sources said, giving previously unreported details of the plan. A Shell spokeswoman declined to comment on the details of the company's new strategy ahead of its February announcements. While Europe's big oil firms are all rolling out strategies to survive in a low-carbon world, investors and analysts remain skeptical about their ability to transform centuries-old business models and triumph in already crowded power markets. BP, meanwhile, plans to slash its oil output by 40% by 2030 and has swept aside its core oil and gas exploration team to focus on renewables, with spending on low-carbon energy set to rise 10-fold to 5 billion over the coming decade. (news.financializer.com). As reported in the news.