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Addressing shareholders at Shell’s annual shareholder meeting in The Hague, Netherlands, on May 20, van Beurden scorned environmentalists’ outcry for individuals and institutions to divest their portfolios of companies that deal in fossil fuels. That won’t be possible until reliable alternatives are readily available, he said. Related: M&A To Take Front Seat In Oil Industry “That particular theory also ignores the reality of the industry,” van Beurden said. “As a matter of fact, it risks distracting from the real issues around the energy transition needs.” He said an end to further investment in his industry would lead to a 70 million barrel-a-day fuel shortfall in 25 years. “We will need sustained and substantial investment to just meet the demand to fuel economic growth, especially, of course, in the developing world,” he added. Van Beurden also defended Shell’s environmental record, saying it was the first in the energy industry to acknowledge the correlation between climate change and carbon emissions. “We have thought through a fairly pragmatic strategy to position Shell with the long-term energy transition that is currently under way,” he told the shareholders. As for its plans in the Arctic, van Beurden said, Shell was managing, even micromanaging, its planned drilling procedures “down to the levels that we think are acceptable – and indeed negligible.” The theme of van Beurden’s speech may have been unexpected, given that he was addressing Shell’s first shareholder meeting since it announced that it planned to buy BG Group, the British energy company, in a $70 billion deal announced six weeks ago that, if completed, would make Shell the world’s largest liquid natural gas (LNG) company. |
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Royal Dutch Shell
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CODE : RDSA.AS |
ISIN : US7802592060 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Royal Dutch Shell is a oil producing company based in Netherlands. Royal Dutch Shell is listed in Germany, in Netherlands, in United Kingdom and in United States of America. Its market capitalisation is €UR 187.4 billions as of today (US$ 214.0 billions, € 187.4 billions). Its stock quote reached its highest recent level on May 24, 2018 at €UR 31.38, and its lowest recent point on October 30, 2020 at €UR 10.10. Royal Dutch Shell has 8 222 179 840 shares outstanding. |