New Shell chief Wael Sawan has shown his hand at the supermajor with a long-anticipated strategy shift confirmed today.
Shell will row back on its previous targets to reduce oil production, pursue further growth in gas and LNG and return more cash to shareholders via dividends and new buybacks, the company said on Wednesday.
Today's pivot is seen as Sawan's step to increase investor confidence amid concerns this had weakened around the company's energy transition strategy.
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June 14, 2023 at 03:18PM
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Shell chief Wael Sawan reveals strategy shift with focus on upstream cash flows and higher dividend - Upstream Online
"strategy" - Google News
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