Reuters: Shell studying green energy deals with eye to post-oil future

|By:, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) CEO Ben van Beurden tells Reuters the company is studying acquisitions in the green energy sector, as it bows to shareholder demands for a strategy beyond fossil fuels.

Major investors, including Dutch pension fund PGGM, have criticized Shell's climate change policies in the past, even as the company owns ~500 MW of onshore wind power capacity in the U.S., has a growing biofuels business in Brazil, and recently bid to build an offshore wind farm in the Netherlands in a consortium with two other Dutch companies.

"Of course we do believe in renewables but probably more in building the utilities and integrating them into our existing operations," van Beurden says, an apparent strategy divergence Total, which is often referred to as one of the most progressive oil companies when it comes to moving away from fossil fuels.