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Shell Plc is looking to sell part of its stake in a wind farm it built off the coast of the Netherlands as the company aims to drive more value for shareholders. ...Under Chief Executive Officer Wael Sawan, Shell is focused on delivering returns for its investors. That means a change in tactics for its renewable energy business.
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(Bloomberg) -- Oil supermajors returned more cash to shareholders than ever before last year as management teams reined in spending on new projects to free up cash for dividends and buybacks. There may be more to come. Most Read from BloombergTesla Asks Which Jobs Are Critical, Stoking Layoff FearsHaley Loses Nevada Primary to ‘None of These Candidates’ OptionChina Replaces Top Markets Regulator as Xi Tries to End RoutUS Commercial Real Estate Contagion Is Now Moving to EuropeCitadel Among Hedge
The No. 2 U.S. oil and gas operator incurred $3.7 billion of charges stemming mostly from assets in its home state of California and the dismantling of decades-old infrastructure in the Gulf of Mexico. Annual production climbed 4%, primarily boosted by rising output in the Permian basin and other U.S. fields.