Patti Domm: 9 March 2017
Royal Dutch Shell‘s announcement of the sale of $7.25 billion in Canadian oil sands assets Thursday is an important step to turning itself into a company of the future — with a broader mix of energy assets and a smaller carbon footprint.
Shell CEO Ben van Beurden said the company is committed to reshaping itself and believes that renewables and new energy will play a bigger role. The company is retaining just 10 percent of its Canadian sands assets.
“We are right in the middle of transforming the company into the company of the future,” he said at the CERAWeek conference in Houston, sponsored by IHS Markit.