Royal Dutch Shell has announced that it will reduce oil production and that Shell oil production will never top the amount produced in 2019. Hence, Shell peak oil supply was 2019. The company intends to layoff 7-9000 people in the coming 2 years.
So what is next, for the Anglo-Dutch oil giant? Preparing for the retirement home? Not so fast, say many organizations in the Netherlands. Shell is an incredible competent company, that should play a major role in the energy transition. For that purpose it needs to reinvent itself. Shell already said it wants to become “greener”, wants to reduce the carbon-intensity of its products by 35% in 2035. The EU has as its target to increase offshore wind from 12 GW now to 300 GW in 2050 or 10 GW per year. If you realize that Vestas produced 13 GW capacity and Siemens-Gamesa 9 GW, it’s obvious that that goal is realistic. Many want to see that Shell takes over a third manufacturer. With Vestas worth $30B and Siemens-Gamesa $20B, a takeover by Shell would be doable, provided it doesn’t wait too long. Both Vestas and Siemens-Gamesa saw their worth double or more in a single year.