Shell chief denies project exits indicate strategy shift, but doubts persist - Upstream Online
Shell chief denies project exits indicate strategy shift, but doubts persist | Upstream Online
Shell chief executive Wael Sawan has denied the supermajor’s recent exits from major liquefied natural gas and carbon capture projects hint at any broad change in strategy.
The UK-based giant this week quit the Browse LNG project in Australia, just days after bailing out of the Northern Endurance Partnership CCS development in the UK, moves that raised questions among investors about its forward strategy.
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.