Wael Sawan prioritises shareholder payouts, setting out plan to keep oil production steady until 2030
Peak in global oil demand ‘in sight before end of decade’
Shell has abandoned plans to cut oil production each year for the rest of the decade, in a shift in approach to firmly target fossil fuels and increase payouts to shareholders under its new chief executive.
The FTSE 100 oil company on Wednesday announced that production would remain stable until 2030, after previously saying it would cut output by about 1-2% each year.
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