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Shell to Cut Oil Production Costs

The oil industry company, Royal Dutch Shell, wants to reduce the costs of generating gas and oil in an attempt to save money and restore its industry. Aimed to cut 40% off the production expenses, the company is considering renewable energy sources and power sector. The company’s plan to diminish its costs, following the coronavirus pandemic, helps it to address sustainable energy and power. The competitive plan will probably escalate rivalry among oil companies including BP and Total. Shell’s total operating expenses reached $38 billion and overall capital allocation mounted to $24 billion, a year ago. Therefore, finding a way to decline costs to produce gas and oil is on its agenda. According to the sources, the major hubs for Shell to produce oil and gas are located in the Gulf of Mexico, the North Sea and Nigeria. Samira H.
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By Samira Hassanzadeh on October 19, 2021

Shell Aims to Cut Its Carbon Emissions

Royal Dutch Shell on February 11 briefed its short and long-term plans for moving towards clean energy. The oil and gas company strives to limit its net zero carbon emissions (by 6% to 8% compared to the amounts in 2016) by two years from now. From there, it will increase the percentage to 20% by 2030 and 100% by the year 2050. Shell’s CEO Ben van Beurden approved it aims to lower emissions. He added Shell respects its stockholders and customers with offering their desired products, which are eco-friendly. It will retain its competitive morale in its shift to zero emissions, he said. The company declared its oil production rocketed in 2019. The supermajors in the world have ignored the climate change issue and retarded clean energy project. This is while the United Nations has criticized the impacts of all the things that lead to a large-scale change in weather patterns. Samira H.
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By Samira Hassanzadeh on October 19, 2021

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