Shell’s drive for green energy will mean it sells more electricity but it has a different strategy from rivalsRoyal Dutch Shell plans to operate as many as 2.5 million electric vehicle charging points globally by 2030 under a new emissions-reduction strategy that will see its oil output decline. The Anglo-Dutch oil giant sought to flesh out its 2050 net zero emissions goal with a plan to focus on customer-facing business such as electricity sales, rather than power generation like its peers. It intends to operate half a million charging points by 2025, up from 60,000 today, and could increase this to 2.5 million by the end of the decade. SponsoredShell also plans to grow its businesses in carbon capture and storage, “nature-based solutions” such as tree-planting, biofuels and hydrogen. The pandemic triggered a collapse in oil demand last yearIt confirmed that its oil output had peaked in 2019, at 1.9 million barrels

Source: The Times February 12, 2021 00:00 UTC