Shell Splits Power Division and Scales Back Offshore Wind

Shell Plc (NYSE:SHEL) has announced plans to cease new offshore wind investments and is splitting its power division as CEO Wael Sawan looks to boost the company’s profitability.   “While we will not lead new offshore wind developments, we remain interested in offtakes where commercial terms are acceptable and are cautiously open to equity positions, if there is a compelling investment case,” a company spokesperson said in a statement carried by Reuters.    Shell appears to be systematically scaling back its clean…