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Hydrogen station Image: Chung Chow Royal Dutch Shell plc said its carbon emissions and oil production have peaked and will decline in the coming years as the company laid out a detailed plan for its transition to cleaner energy. In a sign of how much the petroleum industry has shifted away from its mantra of growth and exploration, Shell said its oil production will fall by one per cent to two per cent a year. Assuming an annual reduction on the upper end of that range, the oil major’s production would fall by 18 per cent by the end of the decade. Output of “traditional fuels” will be 55 per cent lower by 2030. In a wide-ranging strategy update published on Thursday, the Anglo-Dutch company set new targets for electric-car charging, carbon capture and storage, and electricity sales. It also sought to reassure investors that it could maintain returns through the energy transition, reiterating its pledge for an annual dividend increase of about four per cent and the resumption of share buybacks once its net-debt target has been achieved. Methane Emissions Management: This one-day course is delivered by the Canadian Energy Research Institute, in partnership with JWN Energy and […]
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