The petroleum giant is adjusting to falling oil demand, cutting both its dividend and its capital budget
May 4, 2020, 5:16 am EDTThe difference between Royal Dutch Shell and Exxon Mobil (NYSE:XOM) is that Shell knows it’s a zombie, something Exxon refuses to believe. Regardless of whether you trade the Dutch version of Shell stock (NYSE:RDS.A) or the British version (NYSE:RDS.B), you’re buying an fossil fuel company that is now promising to disappear.
Shell CEO Ben van Beurden put it this way: “There is an energy transition underway which may even pick up speed in the recovery phase of this crisis and we want to be well positioned for it.”