Shell Plans to Cut New Offshore Wind Spend, Split Power Division
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Shell plans to reduce its investments in new offshore wind projects and restructure its power division to focus more on oil, gas, and biofuels due to economic challenges.
December 05, 2024 | 12:30 pm
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Shell is reducing its investment in new offshore wind projects and restructuring its power division to prioritize oil, gas, and biofuels.
Shell's decision to cut back on offshore wind investments and focus on traditional energy sources could be seen as a step back in renewable energy commitments, potentially affecting its stock negatively in the short term.
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