Shell aims to reduce the carbon intensity of its product portfolio
Shell calls for policy stability
CEO Ben van Beurden says transition investments are easier to make in a stable policy environment
A stable policy environment will help Shell invest in the UK’s low-carbon transition, says the firm’s CEO Ben van Beurden. Shell made a profit of $9.1bn in the first quarter of 2022, up from $3.2bn last year. The firm does not separate out the share of its profits made in the UK, but says it pays tax on those profits. Asked whether a windfall tax would affect its ten-year plan to invest £20-25bn ($26-33bn)—more than 75pc of which is intended for low-carbon products and services—in the UK energy system, van Beurden called for policy stability. “If there was a windfall tax on the North Sea would that affect our plans for electric vehicle charging investments? I suppose not,” says van Beurden.
Also in this section
13 May 2025
Volatile tariffs add new risks for a sector already struggling to achieve economies of scale
30 April 2025
State administrations are using a flawed metric to justify green energy projects
29 April 2025
Spain’s unprecedented blackout highlighted the risk for green hydrogen producers with exposure to Europe’s creaking power grids
24 April 2025
Liverpool Bay project on track for 2028 startup as Italian energy company reaches financial close with government for CO₂ transport and storage network
