The scrutiny of Shell’s emissions reduction targets is intensifying and speculation is focused on whether it will relax its decarbonisation goals in pursuit of more oil and gas production.
Energy majors that have remained wedded to hydrocarbons have been better rewarded by investors. Just take a look at the performance of Shell versus BP, even before the abrupt exit of the latter’s boss: Shell’s share price return amounts to 166 per cent over the past three years as soaring commodity prices turbocharged a post-pandemic rebound; BP’s pivot to renewables has seen its shares lag not only those of Shell but also their peers in the United States.
Shell’s exposure to liquified natural gas is seen as a key driver of future cashflows. During the first
