Shell is to invest up to $13 billion a year in its upstream business to the middle of the next decade, but the bulk of overall capital investments will go on areas linked to the energy transition including natural gas.
The Anglo-Dutch supermajor this week announced plans to spend an average of $30 billion in cash capex per annum in the five-year period from 2021 to 2025, with a ceiling of $32 billion.
