Shell has been accused of an “utterly destructive” decision as it decided to stop reducing the amount of oil it produces until 2030, as part of a plan it hopes will increase its share price.
The UK-headquartered energy group dropped its plan to reduce oil production by between 1% to 2% each year of this decade.
However, it declared victory, stating the target was reached eight years early after it sold off oil fields to others, which will extract that oil instead.
