While Shell Resists Breakup, Rivals See Opportunity From Spinoffs

Royal Dutch Shell PLC is standing firm against Third Point LLC’s call for a breakup of the oil giant to retain and attract investors. But that isn’t stopping Eni SpA and other European energy conglomerates from targeting similar moves to boost shareholder returns.

Shell has defended its integrated strategy by saying its legacy oil-and-gas assets are needed to fund its investments in lower-carbon energy.