In his maiden trip to India,Royal Dutch Shell CEO Ben van Beurden says the world’s largest non-state-owned oil company by sales is as much focused on clean energy and renewable power as is it on oil retail and liquefied natural gas (LNG). Having led the company through a transformative $50 billion takeover of BG in 2015, Van Beurden told Arijit Barman in an interview that he believes India finally has what it takes to become one of its top fivemarkets globally. He also touched upon gas markets and hubs to peak oil and making Shell more reliant on non-crude energy sources like clean power. Edited excerpts:
The way Shell has decarbonised its portfolio over the past few years, are we to assume that you feel the age of oil may be coming to an end?
If you look at the energy mix at the moment from a demand and consumption perspective, currently the world consumes about 18% of its energy in the form of electricity. That means that there is still a very large percentage of energy consumed in the form of fossil fuels, oil, gas and coal. But if you look into the future we see that mix continuing to change. Does it mean that oil will disappear? No. It won’t. Oil will peak in demand and it will gradually slow down. Gas will at some point of time Read More…
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