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TORONTO, Ont. — As Shell Oil Co. focuses more on natural gas and other alternative fuels, the company is considering dropping the word “oil” from its name, a company executive said at the Toronto Global Forum on July 9.
Having oil in the name “is a little old-fashioned, I’d say, and at one point we’ll probably do something about it,” said Marvin Odum, director of the company’s upstream American business.
According to Bloomberg, Shell Oil’s parent company, The Hague, Netherlands-based Royal Dutch Shell plc, began producing more natural gas than oil two years ago — a trend that has continued.
“The increasing returns and the profile of some of the renewable energy companies is absolutely true,” Odum told the news outlet. “The good news about that is it’s a clear signal that the transition is actually here.”
Odum did not provide a concrete date regarding when the name change could occur.
Shell Oil has a network of 6,000 Shell-branded gas stations in the western United States, as well as another 8,300 Shell-branded stations in the eastern portion of the country that are jointly managed by Motiva Enterprises LLC.