Shell reviews Venture stakes

LONDON: Shell has begun reviewing some investments held under its Shell Ventures portfolio, with the option to sell stakes in a minority of companies, two sources familiar with the matter said.
The British oil major is expected to retain most of its Ventures investments, one of the sources said. Shell Ventures invests in start-ups and other early-stage firms focused on areas including power, emissions management and mobility.
Under CEO Wael Sawan, Shell has been seeking to scale back parts of its low-carbon project pipeline while sharpening its focus on liquefied natural gas trading and upstream operations.
Shell Ventures, established in 1996, typically makes initial investments of $2 million to $5 million, with total potential commitments ranging from $10 million to $25 million over a company’s lifecycle, according to Shell’s website.
For a small portion of the portfolio, Shell is expected to seek investors it believes are better positioned to support and scale those companies, one of the sources said.
Shell reported earlier this month that it missed fourth-quarter profit expectations, with profit down 11% to the lowest level since early 2021 amid weaker oil prices, while maintaining its share buyback programme.
— Reuters