Some analysts have questioned whether a change in management at Shell, with Ben van Beurden due to take over in three months, could see a change in strategy to focus the company on greater returns. JP Morgan asked in a recent investor note: “Does he want to run a lowly-rated, large company or create a smaller, but premium-rated company?â€Â
Royal Dutch Shell chief executive Peter Voser is to call on the global energy industry to continue investing heavily in costly new production projects in order to avoid a return to the days of record high oil prices weighing on global growth.
By Emily Gosden, and Andrew Critchlow: 01 October 2013
“Supplying the world’s energy needs will be extremely tough,†Mr Voser will say in Tuesday’s speech, seen in advance by the Daily Telegraph. “Our first priority must be to invest heavily in new supplies, and to maintain it through economic and political turbulence. Failing to do so would be a sure path to another crunch and major price volatility.â€
Mr Voser’s comments come amid concern that a pullback in investment by some resource and energy companies following the global financial crisis could result in future shortfalls in supply if economic activity should pick up quicker than was previously expected.
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