Shell Becomes Gas Company With $7.25 Billion Oil-Sands Sale

Shell remaking itself for low-carbon world, but some want more Royal Dutch Shell Plc just took a big step toward remaking itself as a natural gas company. With Thursday’s deal to sell $7.25 billion of Canadian oil-sands assets, Shell will boost the share of cleaner-burning gas in its proven reserves from about half to 60 percent, Shell data show. It will also rid itself of some of the most polluting assets on its books. Chief Executive Officer Ben Van Beurden is reshaping Europe’s biggest oil company not just to survive lower crude prices but also to endure the transition to a low-carbon world. His record acquisition of BG Group Plc has given him gas deposits from Kazakhstan to Australia. On Thursday he sharpened Shell’s commitment to reducing pollution, changing executive pay policy to reward efforts to control it. The oil-sands divestment is a big step in “transforming the company […]

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