Shell has revealed plans to ramp up cost savings and cut spending as it vowed to “deliver more value with less emissions” despite having last year weakened its carbon reduction pledge. The oil giant told investors ahead of its capital market day event that it would now look to strip out a cumulative five billion US dollars to seven billion US dollars (£3.9 billion to £5.4 billion) a year by the end of 2028.
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00:00Hello, I'm Greg Wright of the Yorkshire Post and here are your business headlines for today.
00:05Shell has unveiled plans to ramp up cost savings targets as it vowed to deliver more value
00:11with less emissions.
00:13Shell told investors at its Capital Markets Day that it would now look to strip out a
00:17cumulative US$5 billion and US$7 billion a year by the end of 2028.
00:25Shell also said it would grow its top line production across its upstream and integrated
00:30gas business by 1% a year over the next five years.
00:35My name's Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.