Royal Dutch Shell the energy giant has revealed their plans to give shareholders $125bn over the next five years.
The energy giant has cashed in $30bn from selling non-core businesses and will give their shareholders the cash between 2021 and 2025. By the end of 2020 Shell expects to complete a $25bn share buyback.
Ben van Beurden, chief executive said, “We have reshaped our company with a focus on value and have demonstrated a clear track record of delivering on our ambitious promises made at our management day in November 2017.”
The Anglo-Dutch company has also revealed their intention to to grow “market facing” business in their upstream sector that drills for oil and gas.
Shell are investing an estimated $30bn a year and they will continue to focus on shale gas sector and deep-water drilling.
Royal Dutch Shell said, “Natural gas and liquefied natural gas are expected to continue to experience strong demand as the world tackles climate change, poor air quality and population growth.”
First Utility the household energy firm was bought by the company rebranded Shell Energy.
Van Beurden added, “All this adds up to a forward-looking strategy that ensures Shell is well-placed to continue to deliver a world-class investment case and thrive in the energy transition.”