What a Dutch Court Ruling Means for Shell and Big Oil

The Four Percent

If the ruling is upheld, the equivalent of 740 million tons a year of carbon dioxide, more than the emissions of Germany, will have to be removed from Shell’s ledgers by the end of the decade. To hit the court-ordered emissions target, Shell would have to cut output of both oil and pipeline gas by 3% a year, keep liquefied natural gas production flat and cut oil product sales by 30% from 2020 levels, according to RBC Capital Markets analyst Biraj Borkhataria. Like many of its European peers, over the last year Shell has upped its targets to slash its carbon emissions and ultimately become a “net-zero” company by the middle of the century.

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