Shell staff question Wael Sawan’s shift from green spending
Shell (LON: SHEL) CEO Wael Sawan has come under pressure from within his own company urging him not to scale back renewables investment.
Wael Sawan
Europe’s biggest oil company quietly shelves a radical plan to shrink its carbon footprint
Six months after becoming the chief executive at Shell, Wael Sawan quietly ended the world’s biggest corporate plan to develop carbon offsets, the environmental projects designed to counteract the warming effects of CO2 emissions.
Shell profits cut by half as oil and gas prices cool
Supermajor Shell (LON: SHEL) is the latest oil and gas producer to see its profits diminish year-on-year after the heady heights of 2022.
Shell explores sale of stake in renewables unit
The deliberations come as CEO Wael Sawan focuses the company’s investments on fossil fuels.
World ‘desperately needs oil and gas’ says Shell’s Sawan
Shell chief executive Wael Sawan said it would be “dangerous and irresponsible” to cut oil and gas production as demand changes could cause further price spikes.
Big M&A off the table in near-term, says Shell boss, but door open on ‘bolt on’ deals
Big M&A is “definitely not on my priority list” for the next few years, Shell CEO Wael Sawan told journalists yesterday.
Lose appeal against Dutch climate ruling? Shell boss shares simple plan if it happens
“We would simply let go of customers, we would stop selling,” chief executive Wael Sawan told journalists on Wednesday.
Oil giant Shell plans to exit Pakistan after 75 years
Shell (LON: SHEL) has decided to exit Pakistan in a setback for the South Asian nation that is going through its worst economic crisis.
Shell to ‘be unemotional with spend’ as board pushes financial ‘discipline’
Shell (LON: SHEL) is to adopt a a “ruthless” approach to “discipline and simplification” with a view to making the most of its existing portfolio.
Shell demands profits from green energy unit, not just CO2 cuts
Shell (LON: SHEL) executives are telling their renewable power business that it needs to become more profitable, not just deliver lower carbon emissions, and pull back from the less successful elements of its clean-energy strategy.
Shell looks to plug gap amid ‘significant undervaluation’ of shares
Shell’s new boss Wael Sawan said his team is working hard to earn investor trust in bid to help close what many see as a growing gulf in valuations between European and US oil majors.
New Shell CEO brings renewables under one management
Recently appointed Shell (LON: SHEL) chief executive, Wael Sawan, is bringing its low carbon and renewables energy roles under one management.
Shell would ‘think twice’ about investment in the UK
Shell (LON: SHEL) CEO Wael Sawan has warned that the US is more attractive for investment than the firm’s home base of the UK.
Shell CEO says cutting oil and gas production is not healthy
Shell’s (LON: SHEL) new boss said cutting oil and gas output would be bad for consumers, echoing a pivot by other major producers toward fossil fuels and energy security.
Shell seeks ‘problem solver in chief’
Sawan chose to cut the size of the executive committee in January, from nine members to seven.
‘Stability through thick and thin’ key to future investments, says Shell CEO
Shell’s (LON: SHEL) top boss has made a plea for “stability” as calls for an escalation to the North Sea windfall tax continue to circle.
Shell profits could ‘come at a cost’ in form of ‘further windfall taxes’, warn analysts
News of Shell (LON: SHEL) recording record annual profits could come back to bite the oil and gas giant, as well as its counterparts.
Shell profits expected to dip from recent highs after gas price drop
New chief executive Wael Sawan is unlikely to be introduced to shareholders alongside another set of record profits, but Shell (LON: SHEL) will have continued to benefit from massively high energy prices in the last months of 2022.
Shell to combine business units as Sawan shakes up top team
Oil and gas giant Shell (LON: SHEL) has announced plans to shrink its executive committee in a bid to simplify “how the organisation works”.
Shell signs up to Oman gas deals, eyes new hydrogen export option
The company signed a term sheet to buy LNG from Oman LNG for 10 years. The Omani project will provide Shell with 0.8 million tonnes per year, it said.
‘Incredibly excited… but also sometimes daunted’: Wael Sawan on becoming new Shell CEO
Shell (LON: SHEL) has released its first interview with new CEO, Wael Sawan, on his challenges ahead in the top job.
Five key moments from Ben van Beurden’s tenure, as Shell CEO heads for exit door
As far as timeframes in which to lead one of the world’s biggest oil and gas companies go, Ben van Beurden picked a rocky one.
New Shell CEO was ‘strong supporter’ of UK investment while Upstream chief, says North Sea boss
Simon Roddy of Shell says incoming CEO Wael Sawan has already given support to new North Sea projects like Penguins, Pierce and Jackdaw.
Incoming Shell CEO has ‘most challenging job in history’ of oil giant
Activist groups are calling on Shell’s incoming chief executive to make “bold decisions” in order to revolutionise the supermajor.
BP boss Looney praises outgoing Shell CEO for helping to ‘shape the future’ of energy
Energy bosses have been paying tribute to “class act” Ben van Beurden after news broke that he would be stepping down as chief executive of Shell (LON: SHEL).