Details of the job cut at Shell which will affect its staff in Nigeria, and its Clean Energy Ambitions were given by the CEO in an interview.
An earlier announcement by the Royal Dutch Shell Plc confirmed that it is settling for lower, zero carbon emissions and creating a market for capturing carbon in Europe. Chief Executive Officer of Royal Dutch Shell, Ben van Beurden, explained the ambition and discusses Shell’s response to COVID-19 pandemic during an interview.
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According to the CEO, this ambition is consistent with Shell’s strategy. It intends to get to net-zero emissions by applying major changes at refineries, chemicals sites, on-shore and offshore production facilities as well as a change in product types.
A statement which was later released further details Shell’s restructuring plan in three concepts – simpler, streamlined and a lower-cost organisation.
In the document, the company will refocus its refining business and reduce refineries to 10, thereby reducing refining footprint. However, its essential strategies will remain unaltered, it will become smarter and integrate those refineries with its current chemicals business.
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Biofuels is also more likely for the giant as it aims to build its biofuel capability within its refining base.
Shell job cut affects its workers in Nigeria and other countries. It is influenced by oil drop and other factors. Its recent publication explains that as well as the restructuring it is experiencing:
- In a new structure, the upstream giant will focus on generating stable cash flow from its upstream service. According to the CEO, “upstream will be critical to Shell” now, for further investments in its net-zero emission products.
- Integrated Gas having a larger focus on unlocking new and expanding existing LNG markets and furthering customer-led energy solutions; and
- A customer-focused organisation, providing lower and zero-carbon solutions through the Integrated Power, Biofuels and Hydrogen businesses that are significant, competitive, and complement existing businesses like Marketing.
A full third-quarter financials is scheduled for October 29. Read the full interview at https://www.shell.com/reshape.
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