US EditionShell slashes costs and clean energy investment to boost shareholder payouts
- Shell has increased its shareholder distribution policy to 40-50% of cash flow from operations, up from 30-40%, while lowering its spending outlook to a $20-22 billion range through 2028.
- Shell aims to grow liquefied natural gas sales by 4-5% annually and keep oil production steady at 1.4 million barrels per day.
- CEO Wael Sawan stated Shell is committed to becoming a leading integrated gas and LNG business and to invest in low-carbon sectors by allocating 10% of its budget by 2030.
- Shell has set a target for free cash flow growth per share of more than 10% annually until 2030 and plans to cut costs by $5-7 billion by the end of 2028.
63 Articles
63 Articles
Shell's "unsparing" strategy of the clean gas giant
As a result of the Ukraine War, climate protection has lost importance in many business models. Shell had recognized this as one of the first and reduced investments in renewable energies. Now this strategy is being pushed – with a huge LNG plan.
Russia Sues Shell for $1.6B Over Unpaid 2022 Gazprom Supplies
Russia is suing Shell for 1.5 billion euros ($1.6 billion) over allegedly unpaid gas supplies to the state energy giant Gazprom in 2022, the British-Dutch company said in its annual report published Tuesday.
Shell plans to cut more costs, boost gas sales
LONDON, United Kingdom – British energy giant Shell on Tuesday announced plans to slash costs by billions of dollars and increase shareholder returns, as it focuses on its liquified natural gas (LNG) business. Shell aims to reduce costs by between $5 billion to $7 billion by 2028, compared with 2022 levels, the company said in
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