Royal Dutch Shell Plc  .com Rotating Header Image

Shell CEO on BP Bid Rumor: We Grow Organically

Published: Friday, 28 Jan 2011 | 3:46 AM ET
By: Antonia Oprita
Web Producer, CNBC

Royal Dutch Shell is seeking to grow organically and sees demand for oil and gas rising over the next years, CEO Peter Voser told CNBC Friday in an interview from Davos.

On January 4, BP’s shares hit a six-month high after a report in the UK newspaper Daily Mail said Royal Dutch Shell had considered bidding for it at the height of the Gulf of Mexico oil crisis.

Asked whether his company had considered bidding for BP, Voser said: “The standard answer would be I don’t comment on these things, but the other answer is we have invested heavily in our organic growth… I think we have enough on our plate, let’s go and do our own business.”

Emerging markets will be crucial for demand for oil and gas, he said.

“I think we will see a rise in demand mainly driven by an energy kind of revolution in emerging markets,” Voser said. “Therefore we will have to invest even more to get the supply going.”

Gas is a future growth market, as in China only between four and five percent is made up of this relatively clean energy source, he added.

“Shell will have more gas production than oil production,” Voser said.

“I think the gas is the fossil fuel of the future and we are glad to be part of that.”

© 2011 CNBC.com

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.