The largest of Europe’s traditional oil and gas majors since completing its $53 billion merger with BG Group in February, the Anglo-Dutch giant is starting to look beyond the savage retrenchments caused by the collapse of crude prices. This year’s capital expenditure budget is 35% less than what it and BG invested last year, with a more defined focus on petrochemicals, plastics and liquefied natural gas. Speculative drilling, such as off the Alaskan coast, has been almost completely stopped, but the company is still committed to major new production projects in Brazil.
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Videos about Royal Dutch Shell
The chairman of Royal Dutch Shell announced the creation of the new organization at this year's Fortune Brainstorm E. Learn all about the Energy Transitions Commission's goals and who the players are here.
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