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Interesting article - Thanks. IMO I'm sure Shell would like to cut their 30+ bill budget by reduced drilling in new plays. Unfortunateley they have no choice. No drill - no new reserves - reduced profits as reserves deplete.
No surprise they've reduced their renewable energy budget as years of inaction by Governments around the world in this field has left us with no other option than to run with oil. I've read articles that we are at least 20+ years away from moving on from oil powered vehicles/aircraft/machinery etc. At present their is no profits for Shell in renewble energy.
For Shell to survive they need/must invest in projects like Senegal that have the potential to offer huge returns.
Like us they have to invest money to make money
interesting preopen, page-23
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