Shell cuts wind investments, focuses on oil, gas, and biofuels to boost profitability.

Shell is reducing investments in new offshore wind projects and splitting its power division to focus more on oil, gas, and biofuels. While the company will continue with ongoing renewable projects, it plans to cut back on future initiatives to enhance profitability. CEO Wael Sawan is leading this strategic shift, which also includes growing the liquefied natural gas division and stabilizing oil production by the end of the decade.

3 months ago
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