Royal Dutch Shell said it saw little risk of being left with “stranded assets” as the world begins to shift away from fossil fuels and promised to keep pace with the global transition to cleaner energy.

The Anglo-Dutch group said 80% of its current proved oil and gas reserves would be produced by 2030, when it expects demand for those hydrocarbons to be higher than it is today even under its most aggressive scenario for growth in alternative forms of energy.

Shell said it was confident that its reserves would remain competitive over that period at prices as low as $40 per barrel, compared with about $70 today, and that the group had enough flexibility to adjust longer-term investments in line with the changing energy landscape.

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