More rewards for Shell shareholders

SHELL has pledged to further reward its shareholders after passing nearly £19bn to them in 2024, alongside announcing plans to reduce expenditures and improve cost efficiency.

- BY JON ROBINSON

Before its capital market day event yesterday, the oil giant told investors it is set on enhancing cost savings and cutting spending as part of its commitment to "deliver more value with less emissions."

This comes despite the company facing criticism last year for abandoning its target to cut net carbon intensity by 45% by 2035.

The firm now intends to eliminate a total of £3.9bn to £5.4bn annually by the end of 2028, a substantial increase from the earlier goal of saving £1.5bn to £2.3bn by the close of 2025.

Additionally, Shell plans to trim its capital expenditure to between £15.5bn and £17bn yearly over the next three years.