Cutting wind.

Shell is preparing to cut staff from its offshore wind business (mainly in Europe), as CEO Wael Sawan moves the company away from the capital-intensive renewable energy sector, Bloomberg reported.

Shell has been gradually shrinking its commitments to green energy, as fossil fuels offer most bang for the buck to the shareholders. Might be profitable in the short-term, but is it in the long-term?

Anca heashot

Anca Gurzu

Chief Europe Correspondent