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Shell Wants Its Oil Refineries to Make Things You Don’t Burn

  • Energy giant to focus on chemicals, lubricants and bitumen
  • Producer to eventually lower number of refineries from 14 to 6
Shell Refinery Up For Purchase

Photographer: Paul Thomas/Bloomberg

Royal Dutch Shell Plc has a plan to reduce its carbon emissions -- sell fewer products its customers can burn.

The European energy giant is reconfiguring -- and shrinking -- its refining and petrochemicals business to focus less on fuel that is combusted and emits greenhouse gases, and more on the chemicals, lubricants and bitumen that keep carbon trapped inside them, Huibert Vigeveno, the company’s downstream director, said in an interview at the BloombergNEF summit in Shanghai.