Oil supermajor Shell plans to announce by the end of the year a significant restructuring to reflect its net-zero emissions goal for 2050 and to align itself with a green recovery from the pandemic, a Shell source told Reuters on Tuesday.

Shell’s chief executive Ben van Beurden has told employees in an internal website video that there would be restructuring and job cuts, sources who saw the video told Reuters.

Shell’s official website has posted a video message from van Beurden, who says that “[S]ociety must remain focused on the longer-term challenge of climate change. Because it hasn’t gone away. It still needs urgent action. Shell has a big part to play.”

“Our current business plans will not get us to where we need to be, and we will have to change those plans over time. And, it won’t be easy, and of course there will be obstacles to overcome, but like many others, I believe that society now has a unique opportunity to accelerate towards a cleaner energy future,” the top executive said in the message.

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Source: Oil Price

Image Credit: frankieleon/Flickr/

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