Energy

Shell’s CEO says cutting oil and gas production is ‘not healthy’

Wael Sawan says the demand for fossil fuels is here to stay

The renewed emphasis on fossil fuels follows a year of high and volatile prices. Picture: Getty

Shell’s 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.

“I am of a firm view that the world will need oil and gas for a long time to come,” Wael Sawan, Shell’s new chief executive, said in an interview with Times Radio. “As such, cutting oil and gas production is not healthy.”

Europe’s largest energy majors are ...