01:27 PM EDT, 05/01/2024 (MT Newswires) -- Shell (SHEL) exited its power business in China, including power generation, trading and marketing, at the end of 2023 to focus on more profitable operations, according to media reports Wednesday, citing a company spokesperson.

"We are selectively investing in power, focusing on delivering value from our power portfolio, which requires making difficult choices," Shell's spokesperson said, Bloomberg reported.

Shell did not immediately respond to a request for comment by MT Newswires.

Shares of the company fell 1.3% in recent trading.

Price: 70.73, Change: -0.93, Percent Change: -1.30