Shell declares peak oil, shifts to LNG, CCS

DUTCH supermajor Shell has outlined its policy of how it intends to reach net-zero emissions by 2050, saying its emissions had peaked in 2018 and oil production peaked in 2019.

Shell declares peak oil, shifts to LNG, CCS Shell declares peak oil, shifts to LNG, CCS Shell declares peak oil, shifts to LNG, CCS Shell declares peak oil, shifts to LNG, CCS Shell declares peak oil, shifts to LNG, CCS

Shell CEO Ben Van Beurden.

The company expects a gradual reduction in oil production of around 1-2% each year, relying on divestments and natural field decline.