Deals
Shell Braces for Change by Expanding Its Foothold in Electricity
- Oil major is reported to consider second utility takeover
- CEO says customers’ needs are changing and Shell must adapt
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Royal Dutch Shell Plc is taking small steps toward a future dominated by electric cars, renewable energy and carbon constraints, demonstrating its intent not to remain solely an oil and gas company.
The energy giant agreed last month to purchase First Utility Ltd., the U.K.’s seventh-largest power provider. Its offshore-wind partnership with Eneco may expand further, with newspaper Telegraaf reporting on Friday that Shell is considering buying the Dutch utility outright.