Shell, a giant in the global oil and gas sector, has expanded its business focus into the energy world as the company moves to achieve its net-zero emission targets.
To deal with the impact of fossil fuel on climate change, major oil companies are expanding their footprints into related energy businesses but Shell’s plan seem to be the most ambitious.
Recently, the company launched its new outfit, Shell Energy Nigeria, which aims to deliver competitive and reliable energy for power generation and industrial users and to develop gas distribution to serve people in the new region.
In 2019, Shell said it was investing between $1 billion and $2 billion yearly into energy technologies including electricity out of its $25 billion yearly capital expenditure budget.
The company disclosed that the acquisition of Powershop which will form Shell’s residential power platform in Australia is in line with Shell’s Powering Progress strategy and ambition to create an integrated power business.
