What did Shell CEO Wael Sawan say about the long-term role of oil in meeting global energy demand?

Shell CEO Wael Sawan stated that 'meeting oil demand will be essential for decades to come', emphasizing this point during his address to shareholders at the company's annual general meeting.

Why did Shell's CEO oppose the Follow This shareholder resolution requiring disclosure under declining oil and gas demand scenarios?

Sawan argued that the resolution would be 'against good governance' because it would hold Shell to specific demand scenarios that are subject to change, and he asserted that Shell's existing disclosures already 'comprehensively cover' Follow This's questions and enable shareholders to model the company's financial resilience under any price scenario of their choosing.

Meeting oil demand will be essential for decades, Shell CEO says

May 19, 2026

Shell CEO Wael Sawan asserted that meeting global oil demand is essential for decades, rejecting activist proposals to model declining demand scenarios. Shareholders will vote on the resolution, which proxy adviser ISS recommended against in line with the board's stance.

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Meeting oil demand will be essential for decades, Shell CEO says

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