British energy company Shell has withdrawn from China's electricity markets, as part of a new strategy aimed at focusing on more profitable areas, with a focus on its natural gas and oil business units.

The company explained in an official statement that the exit decision includes all activities of the electricity sector in China, from generating and trading electricity to marketing it, noting that the decision became effective as of the end of 2023.

While a Shell spokesperson confirmed that this trend does not include electric vehicle charging activities, it represents an important step in the company’s efforts to simplify its operations and improve its efficiency.

This decision comes within the framework of a broader plan that aims to reduce Shell's annual costs by up to three billion dollars.