Simon Bowers: Sunday 11 September 2016 17.15 BST
Royal Dutch Shell has started production at the world’s deepest underwater oil and gas field, 1.8 miles beneath the sea surface in the Gulf of Mexico.
The latest costly addition to Shell’s production capacity comes despite Van Beurden’s repeated pledges on climate change. In May, he said: “We know our long-term success … depends on our ability to anticipate the types of energy that people will need in the future in a way that is both commercially competitive and environmentally sound.”
Faced with low oil prices and increased pressure from climate change activists, Shell has retreated from some of its most expensive production projects. In the autumn last year, it ditched drilling operations in the Alaskan Artic and abandoned a tar sands project in Alberta, Canada.