On August 10th, Interface News learned from Shell China that Chen Lin, former chairman of Shell China, passed away on August 7th due to illness.
On July 1st last year, Chen Lin was appointed as the Chairman of Shell China, becoming the first female Chairman in Shell China's history. On April 1st of this year, Chen Lin resigned from the aforementioned position. At that time, the relevant person in charge of Shell China told Interface News, "Ms. Chen Lin is currently on sick leave
Chen Lin has been working at Shell Group for nearly 30 years. In 1997, she joined Shell as a management trainee and has held positions in China, the United Kingdom, the United States, and Canada. She has served as Vice President of Shell China's Downstream Investment Development Department and Vice President of Shell Group's Chemical and Refining Products Business, with extensive financial and business experience.
At the beginning of Chen Lin's tenure as Chairman of Shell China, Shell stated that she will lead Shell China to further promote the implementation of the "Empowering Progress" business strategy in China based on the three principles of "performance, discipline, and simplification".
Shell is one of the earliest multinational oil companies to propose energy transformation. In February 2021, it released the "Empowering Progress" strategy, hoping to reduce oil production, expand the scale of liquefied natural gas (LNG) business, and accelerate the development of renewable energy.
Since the Russia-Ukraine conflict, the geopolitical conflict has continued, and global energy security has become the top priority. In addition to the current limited profitability of new energy, Shell and other multinational oil companies have slowed down the pace of energy transformation and put more emphasis on profitability.
Last June, Shell Group proposed three principles of "performance, discipline, and simplification". Under this guiding principle, Shell stated that it will focus on "quality rather than quantity" as its business objective, and concentrate more on its areas of expertise.
Shell first downsized in the low-carbon business sector. Last June, Shell cancelled its annual investment plan of $100 million for its carbon offset business; Last October, Shell proposed to lay off 15% of its low-carbon solutions division globally; In February of this year, Shell announced the permanent closure of seven hydrogen refueling stations operating in California, USA.
On March 14th of this year, Shell Group released its first energy transition update plan since 2021. The latest goal is to reduce the net carbon intensity of its energy products sold by 15% -20% by 2030, compared to the previously set goal of reducing it by 20%. Shell has also cancelled its previously planned 45% reduction by 2035. Shell has stated that it will continue to maintain its net zero target for 2050.
In the first half of this year, Shell released its financial report stating that its adjusted earnings for the period were $14.027 billion, a year-on-year decrease of 5%. Among them, the renewable energy business sector became the only loss making sector.
In the first half of the year, the adjusted revenue of Shell's comprehensive gas business segment was 6.354 billion US dollars, a year-on-year decrease of 14%; The adjusted revenue of upstream business was 4.27 billion US dollars, a year-on-year decrease of 5%; After adjusting the sales market business, the revenue was 1.863 billion US dollars, a year-on-year decrease of 1%; The adjusted revenue of the chemical and product sector was 2.7 billion US dollars, a year-on-year increase of 27%; The renewable energy and energy solutions sector incurred a loss of $24 million, a year-on-year decrease of 104%.
As of now, Shell employs approximately 82000 employees in over 70 countries and regions worldwide. Among them, there are over 20000 employees in China, with over 99% being Chinese citizens.
On April 1st of this year, Shell China announced that Qu Xuemei would be appointed as Executive Vice President of Shell Group and Chairman of Shell China Group, effective immediately. She became the second female group chairman in Shell China's history after Chen Lin.
After joining Shell in 2017, Qu Xuemei was mainly responsible for the company's lubricant business. She served as the general manager of the lubricant market department in Greater China and became the vice president of Shell's global lubricant market in 2021. Shell believes that Qu Xuemei's advantages are reflected in high-performance team building and talent cultivation.