Tag: peaked

Shell says its oil production has peaked and will fall every year

The Anglo-Dutch company said in a statement on Thursday that it expects its oil production to decline by between 1% and 2% each year after peaking in 2019. Its total carbon emissions likely peaked in 2018, it added.
Shell unveiled plans in September to become a net zero emissions business by 2050 (including from its own products and those that it sells), joining European rivals BP (BP) and Total (TOT) in making a shift towards clean energy.
The oil giants have written off billions of dollars of assets, spurred on by forecasts that global oil demand
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