Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Shell's gas production could be triple oil by 2050 - CEO

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/07/2018 | 06:03pm CEST
FILE PHOTO: Filled oil drums are seen at Royal Dutch Shell Plc's lubricants blending plant in the town of Torzhok

HOUSTON (Reuters) - Royal Dutch Shell could boost its share of natural gas production to triple that of oil in order to meet self-imposed goals to halve carbon emissions by 2050, Chief Executive Ben van Beurden said on Wednesday.

Speaking at the CERAWeek conference by IHS Markit in Houston, van Beurden outlined a series of measures the Anglo-Dutch company is considering to meet the ambitious targets, which include limiting emissions from its operations as well as emissions from the burning of its petrol and gas by customers.

"Over time, this net carbon footprint ambition will transform our company's product mix," van Beurden said.

Other than increasing the share of natural gas, the least polluting fossil fuel, from around 50 percent today, Shell could also sell energy from offshore wind farms, sell biofuels and use carbon capture and storage (CCS) technology, van Beurden said.

Shell is even rolling out a program charging customers 1 to 2 cents at the gasoline pump to be used to plant trees around the world to offset carbon emissions, he said.

Van Beurden however said that the energy sector will need gas production operations to reduce emissions of methane, a potent greenhouse gas, or the case for the fuel as a lower carbon alternative would be "fatally undermined."

Shell, the world's top trader of liquefied natural gas, currently produces around 3.7 million barrels of oil equivalent per day, of which roughly half is natural gas.

(Reporting by Ron Bousso; Editing by David Gregorio)

By Ron Bousso

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
07:59pUSTDA U S TRADE AND DEVELOPMENT AGENCY : Supports Virtual Pipeline Project in Nigeria, Creating Opportunities for U.S. Businesses
PU
07:49pGOVERNMENT OF CANADA : Governments working to increase British Columbia food exports to support communities at home
PU
07:45pWall Street drops as Rosenstein jitters add to trade woes
RE
07:35pOil prices surge as Saudis, Russia won't open spigots
RE
07:35pEU lawmakers move to tighten rules on London-based investment banks
RE
07:30pFacebook not protecting content moderators from mental trauma - lawsuit
RE
07:29pECOSOC UNITED NATIONS ECONOMIC AND SOCIAL COUNCI : ‘Face the Forces That Threaten Us’ With Courage, Conviction of Nelson Mandela, Secretary-General Tells Peace Summit Honouring Former South African President
PU
07:29pECOSOC UNITED NATIONS ECONOMIC AND SOCIAL COUNCI : Nelson Mandela Embodied Values of Peace, Human Dignity, Secretary-General Says at Unveiling of United Nations Headquarters Statue
PU
07:24pEUROPEAN UNION : ESMA monitors volatility in financial markets
PU
07:16pU.S.-North Korean Relations Have Improved, CIA Chief Says
DJ
Latest news "Economy & Forex"
Advertisement