Why are Shell and BP moving away from renewables?
Shell is selling its onshore European renewables unit as BP continues to scale back its low-carbon investments. Reuters senior corporate energy correspondent in London, Stephanie Kelly, explains why the energy giants have moved away from renewables.
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Video Summary
AI GeneratedShareholders are urging Shell and BP to prioritize businesses with higher and more predictable returns, leading both to refocus on oil and gas. While Shell emphasizes trading and upstream operations, Total is strengthening its electricity business through renewable and gas-fired assets to leverage power price volatility via its trading arm.
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