Shell Maintains Oil Output, Increases Shareholder Payouts Despite Net-Zero Pledge

Shell abandoned its plan to cut oil production and will keep output steady until 2030.
The company will increase its dividend by 15% and buy back at least $5 billion of shares.
Shell aims to reach net-zero emissions by 2050 but its decision to not cut oil production has drawn criticism.
Shell's new CEO announced a strategy to boost shareholder returns while still appealing to ESG investors.
The company expects 2% annual growth through 2030 but its valuation still lags peers.