Royal Dutch Shell Plc’s Australia unit said Aug. 3 it will buy environmental services firm Select Carbon as it seeks to cut back its emissions and expand its low-carbon and renewable power business.
Shell did not disclose a value for the deal, but said it will help in contributing towards the company’s ambition of being a “net-zero emissions energy business by 2050 or sooner.”
Last year, Shell made its first foray into Australia’s highly competitive power sector with a A$617 million (US$441 million) takeover offer for ERM Power.
The Anglo-Dutch company has made a number of large investments in renewables and electric vehicle technologies, and plans to boost spending on its power division to $2 billion to $3 billion per year by 2025 as the world rapidly shifts towards cleaner energy.
Select Carbon specializes in developing carbon farming and manages a portfolio of over 70 projects encompassing over 9 million hectares across Australia, according to the company’s website.
Shell expects the deal to be completed before the end of the year, it said in a statement.
Midland, Texas-based Endeavor Energy Resources has purchased IFS Applications as the new ERP system of record for its oilfield services division.
The Offshore Operators Committee (OOC) Oil & Gas Blockchain Consortium said on June 3 it has successfully completed its first pilot leveraging blockchain technology.
McDermott International Inc. has been awarded a substantial contract from a Middle East customer for engineering, procurement, construction and installation (EPCI) services in the Arabian Gulf, the company said on March 21.