Shell will cut 200 positions within its low-carbon solutions unit in 2024, a spokesperson confirmed to CNBC on Wednesday.
The company's low-carbon division helps spearhead Shell's transition to clean energy including hydrogen, given its pledge to become a "net-zero emissions energy business" by 2050.
In the meantime, according to the spokesperson, Shell is planning $10-15 billion of low-carbon energy investment over the next two years, which will include biofuels, hydrogen, carbon capture and electric vehicle charging.
Last July, the company announced its investment in the creation of one of Europe's largest hydrogen energy plants.
The question of how Big Oil companies like Shell can fit into a clean energy future is existential for its business.
Persons:
Wael Sawan, downsize, Shell, Sawan
Organizations:
Shell, CNBC, Department of Energy, Big Oil, Exxon Mobil, Chevron
Locations:
Shell's, bullish, Louisiana, Paris, California