The Anglo Dutch company is in the midst of its largest overhaul yet it wants to expand its renewables and low carbon business in the face of growing investor pressure to battle climate change.

Environmental groups have also been turning up the heat over the past year toe offset emissions from its hydrocarbon products.

Shell plans to reinject emissions into the ground or plant trees.

On Thursday, Greenpeace described the strategy as delusional, adding that Shell's plans did not reduce hydrocarbon production enough.

The environmentalist groups said, without commitments to reduce absolute emissions by making actual oil production cuts, this new strategy can't succeed, nor can it be taken seriously.

Most European energy majors have set some kind of net zero carbon target by 2050.

The ambition of Shell, which is the world's largest oil and gas trader, stands out in that it covers three emissions from the end use of products other companies have produced but which it sells to customers.