Shell creates green energy division to invest in wind power

Insiders say oil firm's New Energies renewables arm could grow very big, but not for a decade or more

Shell, Europe's largest oil company, has established a separate division, New Energies, to invest in renewable and low-carbon power.

The move emerged days after experts at Chatham House warned international oil companies they must transform their business or face a "short, brutal" end within 10 years.

Related: Oil firms have 10 years to change strategy or face 'short, brutish end'