SHEL - Shell Exits Chinese Power Market Eyes Gas Growth: Report | Benzinga
Oil major Shell PLC (NYSE:SHEL) has reportedly decided to exit China’s power markets, aligning with CEO Wael Sawan’s focus on bolstering profitability in its natural gas and oil sectors.
Shell has withdrawn from China’s power value chain, encompassing generation, trading, and marketing, effective since the close of 2023, according to a report from Reuters.
This move reflects a commitment to selectively invest in profitable ventures within the power sector.
The decision to exit China’s power market comes amid a broader effort to streamline operations and save up to $3 billion ...