Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, accelerating previous targets, as oil production was set to slowly decline from its 2019 peak. The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in the face of growing investor pressure on the oil and gas sector to battle climate change. In a strategy update, Shell outlined plans to grow rapidly its low-carbon businesses, including biofuels and hydrogen, but spending will stay tilted towards oil and gas in the near future. It will continue to rely on its retail business, the world’s largest, aiming to increase the number of sites to 55,000 by 2025 from today’s 46,000. […]