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October 29th, 2020:

Shell to axe refining plants and focus on dividends and debt reduction

Shell to axe refining plants and focus on dividends and debt reduction

Philip Whiterow: 07:31 Thu 29 Oct 2020

Royal Dutch Shell PLC (LON:RDSB) has unveiled a huge restructuring of its refining and chemical operations as part of a strategic overhaul that places dividends at its centre.

The Anglo-Dutch giant said its fourteen refining sites will be reduced to six integrated chemical parks, with a switch in focus to performance chemicals and recycled feedstocks.

Shell’s marketing arm will also be strengthened with the development of the integrated power business and hydrogen and biofuels. read more

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