Related Articles
Forward article link
Share PDF with colleagues

Shell Q4 results seal dismal year

Steep losses from the oil crash of 2020 were expected and eyes have already turned to renewables strategy

It was almost an anti-climax when Shell posted a £2.9bn ($4bn) loss in its Q4 2020 results. Investors are far more interested in the company’s renewable strategy, to be unveiled this week. It means Shell has declared a total net loss of £16bn for the financial year 2020, after the Covid-19 pandemic sent demand plummeting. The world where oil companies raked in huge profits in fossil fuels has gone, and investors want to know what Shell is going to do about it. Pension funds in particular have also been used to the cash flow from the oil business and will be eagerly awaiting the unveiling of Shell’s strategy to grab market share in the green energy economy. Shell is bullish about its futur

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
US ‘Build Back Better Act’ aims for EV policy shift
6 December 2021
Bill includes point-of-sale credits on US-built EVs and $1bn towards charging and refuelling stations
Greening of UK power system gathers pace
3 December 2021
Lenders back phase three of £9bn Dogger Bank offshore windfarm, and power distributor proposes £4bn clean energy overhaul
Module price surge wrongfoots Chinese solar firms
2 December 2021
Solar module prices up 28pc this year on the back of soaring feedstock costs, conference delegates say
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video