Shell is reportedly looking to sell some of its Shell Ventures portfolio.

Shell is examining the possibility of selling investments in some companies that are part of its Shell Ventures portfolio.

One source said that the British oil giant will retain a large portion of its Ventures investment. The corporate venture fund has interests in early-stage companies and start-ups, focusing on sectors such as power, emissions control and mobility.

Shell's CEO Wael Sawan aims to reduce the company’s low-carbon projects to concentrate on liquefied gas trading and upstream.

Shell Ventures was established in 1996 and has an initial investment range of $2 to $5 million. Total potential commitments can reach between $10 to $25 million over the lifecycle of a company, according to Shell's site.

One source said that Shell will identify investors for a small portion of its portfolio who are 'better placed to support and scale these companies.

Shell announced earlier this month that it had missed its fourth-quarter profit expectation with a 11% decline?to the lowest levels since 'early 2021 due to 'weaker oil price, but maintained its bumper share purchase programme.

(source: Reuters)