Shell Shows It Favors Investor Returns Over Renewables Deals

Royal Dutch Shell Plc proved it’s taking a different approach to the energy transition.

As the company’s European peers pour billions into offshore wind farms and solar projects, Shell chose to give its latestinflux of cash back to shareholders.

Investors still have reservations over the fossil fuel industry’s plans to switch from historically high-return oil and gas projects to potentially less profitable low-carbon energy. Shell’s promise that three quarters of the proceeds from the $9 billion sale of its Permian shale business will be returned to shareholders “should alleviate fears any incremental free cash will be sunk into ...