Shell had been spending heavily in offshore wind, aiming to leverage its experience extracting oil and gas at sea to become a leader in the technology. But soaring costs in the sector and a renewed focus on driving returns for shareholders under CEO Wael Sawan has led the company to back away from the energy source.
Eco Atlantic to acquire JHI, gain Falklands, Guyana offshore stakes
Eco Atlantic has agreed to acquire JHI Associates in a deal valued at about $52 million, gaining...
