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coincidence (New York Stock Exchange: ShellBloomberg reported Thursday, citing a message from Executive Vice President Steve Hill at an indoor town hall for his Shell energy team.
While the energy business has played an important role in Shell’s (SHEL) decarbonization efforts and narrative, Hill reportedly stressed the need to grow the business profitably and operate in a business acumen like the rest of the company.
“Delivery will be one of the organization’s tasks in the future,” Hill told the gathering. According to the report. “The things we’ve been less successful at, we need to cut back or stop.”
The Renewable Energy and Energy Solutions division was a drag on Shell’s (SHEL) cash flow performance, responsible for an outflow of $6.39 billion in 2022 compared to an inflow of $27.69 billion from the integrated gas business and $29.64 billion from the exploration and production business.
Shell (Shell) prepares to The potentially acrimonious Annual General Meeting Next week, as the company struggles to balance investor pressure to lock in profits from oil and gas and an outspoken minority that believes it must move faster to combat climate change.
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