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Daily Express: Shell Chief’s scientific outlook

Daily Express: Shell Chief’s scientific outlook

Friday 24 June 2005

City & Business Editor: Stephen Kahn: email: [email protected]

Article by Andrew Johnson

CHIEF EXECUTIVE Jeroen van der Veer is to beef up Shell’s science and technology work as part of moves to show there is life after the oil giant’s disastrous recent past.

Outlining where he would like the company to be in 1o years, van der Veer said innovation would play a crucial role in giving it a competitive edge.

The move comes ahead of the company’s annual meeting on Tuesday, when shareholders are expected to rubber-stamp a revamp of Shell’s three-board, two company structure to a single board and company.

Van der Veer said he believed hydrocarbons would still dominate energy in 2015. The group would increase research and development spending and appoint 10 chief scientists in order to give senior jobs to technical staff. A “Mr or Mrs CO2” would make sure Shell exploited opportunities provided by carbon trading and dumping carbon dioxide in the North Sea.

The group also planned to increase its number of multi-billion-dollar projects, from three to 10 by 2015. Oil extracted from difficult locations would be increasingly important. he said.

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