Published: June 6, 2023 |

[Click image to enlarge]

Shell said on Tuesday that it had decided to exit its home retail energy businesses in Britain, Germany, and the Netherlands due to their poor returns.

Shell launched a strategic review of its European retail businesses in January, citing “tough market conditions”, shortly after CEO Wael Sawan took office.

“That review has now concluded and as a consequence, we intend to exit those businesses. A sales process is already underway, with the intent to reach an agreement with a potential buyer in the coming months,” Shell said in a statement.

Reuters reported last month that three of Britain’s largest power providers had expressed interest in acquiring Shell’s UK retail business.

Source: Reuters

Shell is an international energy company with expertise in the exploration, production, refining and marketing of oil and natural gas, and the manufacturing and marketing of chemicals. They use advanced technologies and take an innovative approach to help build a sustainable energy future. They also invest in power, including from low-carbon sources such as wind and solar; and new fuels for transport, such as advanced biofuels and hydrogen.

Be in-the-know when you’re on-the-go!