Shell soldiers on after Eneco miss

摘要

Oil major Shell has pledged to continue expanding its European power business despite missing out this week on a multibillion dollar deal to buy Dutch utility Eneco. Shell said November 25 that it will continue to look for opportunities to grow its power sector business after missing out on a multibillion dollar deal for Eneco. European oil majors like Shell, BP and Total are investing billions of dollars to enter European retail power markets and increase their exposure to electric vehicle recharging as their traditional fossil-fuel businesses come under closer scrutiny from the sol called energy transition. “We will continue to look for opportunities in the energy transition and aim to invest on average $2 billion to $3 billion per year from 2021 onwards,” said Maarten Wetselaar, Shell’s head of integrated gas and new energies.