6th Jul 2018 12:08
LONDON (Alliance News) - Royal Dutch Shell PLC supported calls for the UK to bring forward petrol ban from 2040, the Guardian reported late Thursday.
The FTSE 100-listed oil & gas company said the early decision will provide clarity and make it easier for Shell to make investment plans and shift consumer attitudes.
UK government intends to displace conventional cars from the market and replace them with electric cars to cut air pollution and greenhouse gas emissions. However, these plans poses a double whammy for oil companies, the newspaper highlighted.
Currently, there are more than 140,000 plug-in cars in the UK, and about 2% of new car sales are electric.
The Guardian noted that some giants in the industry have been preparing for change. Shell has responded by buying electric car infrastructure firms and beginning to install charging points on forecourts.
Meanwhile, energy firm BP PLC purchased the UK's largest electric-car charging network for GBP130 million on Thursday last week.
Shares in Shell were trading 0.6% lower on Friday at 2,675.50 pence each while BP was down 0.4% at 574.10p per share.
https://www.theguardian.com/business/2018/jul/05/shell-would-support-uk-bringing-forward-petrol-ban-from-2040
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