New Shell CEO Faces Big Dilemma: Should the Company Pump More Oil?

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HOUSTON— Wael Sawan knows he is about to make some people very unhappy.

The new chief executive of Shell PLC is in the midst of crafting his business plan for the London-based energy giant, including whether to increase oil production. Doing so would please many investors looking to build on last year’s oil-and-gas bonanza, .css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;} which produced record annual earnings for Shell.

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.css-1ssco59-Link{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;gap:16px;-webkit-text-decoration:none;text-decoration:none;gap:8px;min-width:219px;} .css-1c8janm-ImgWrapper{position:relative;height:100%;}.css-1c8janm-ImgWrapper img{border-radius:2px;object-fit:cover;}.css-1c8janm-ImgWrapper svg{position:absolute;bottom:0.6em;left:0.3em;}.css-1c8janm-ImgWrapper svg use{fill:rgba(0, 0, 0, 0.7);} .css-qd7b40-Headline{font-size:18px;font-weight:var(--font-weight-bold);line-height:20px;color:var(--primary-text-color);font-family:var(--article-subhed-font-family);margin:0;display:-webkit-box;overflow:hidden;-webkit-box-orient:vertical;-webkit-line-clamp:3;font-size:16px;font-weight:var(--font-weight-medium);line-height:24px;font-family:var(--font-font-stack-retina);font-style:var(--font-style-normal);} Sam Bankman-Fried Charged With Bribing Chinese Officials .css-d19tje-TimeTag{font-family:var(--font-font-stack-retina);font-size:12px;line-height:15px;padding:0px;margin:0px;display:inline-block;font-weight:300;color:var(--secondary-text-color);font-size:14px;line-height:20px;color:var(--color-red);font-size:14px;line-height:20px;}.css-d19tje-TimeTag:after{content:'';} .css-1tq2rt6-StyledTimestamp-TimeTag{font-family:var(--font-font-stack-retina);font-size:12px;line-height:15px;padding:0px;margin:0px;display:inline-block;font-weight:300;color:var(--secondary-text-color);font-size:14px;line-height:20px;color:var(--color-red);font-size:14px;line-height:20px;}.css-1tq2rt6-StyledTimestamp-TimeTag{font-size:13px;font-weight:350;line-height:16px;font-family:var(--font-font-stack-retina);margin-top:8px;color:var(--secondary-text-color);font-size:12px;font-style:var(--font-style-normal);}.css-1tq2rt6-StyledTimestamp-TimeTag:after{content:'';} 4 hours ago

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.css-mbn33i-AuthorLink{color:var(--interactive-text-color);font-style:var(--font-style-italic);}.css-mbn33i-AuthorLink:hover{-webkit-text-decoration:none;text-decoration:none;} Jenny Strasburg .css-kx7fw8-FollowButton{display:inline;margin:0 8px;}.css-kx7fw8-FollowButton ufc-follow-author-widget:not(.hydrated){display:inline-block;width:60px;} print. Listen to article. (1 minute) HOUSTON— Wael Sawan knows he is about to make some people very unhappy. The new chief executive of Shell PLC is in the midst of crafting his business plan for the London-based energy giant, including whether to increase oil production. Doing so would please many investors looking to build on last year’s oil-and-gas bonanza, .css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;} which produced record annual earnings for Shell. What's News. .css-1ssco59-Link{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;gap:16px;-webkit-text-decoration:none;text-decoration:none;gap:8px;min-width:219px;} .css-1c8janm-ImgWrapper{position:relative;height:100%;}.css-1c8janm-ImgWrapper img{border-radius:2px;object-fit:cover;}.css-1c8janm-ImgWrapper svg{position:absolute;bottom:0.6em;left:0.3em;}.css-1c8janm-ImgWrapper svg use{fill:rgba(0, 0, 0, 0.7);} .css-qd7b40-Headline{font-size:18px;font-weight:var(--font-weight-bold);line-height:20px;color:var(--primary-text-color);font-family:var(--article-subhed-font-family);margin:0;display:-webkit-box;overflow:hidden;-webkit-box-orient:vertical;-webkit-line-clamp:3;font-size:16px;font-weight:var(--font-weight-medium);line-height:24px;font-family:var(--font-font-stack-retina);font-style:var(--font-style-normal);} Sam Bankman-Fried Charged With Bribing Chinese Officials .css-d19tje-TimeTag{font-family:var(--font-font-stack-retina);font-size:12px;line-height:15px;padding:0px;margin:0px;display:inline-block;font-weight:300;color:var(--secondary-text-color);font-size:14px;line-height:20px;color:var(--color-red);font-size:14px;line-height:20px;}.css-d19tje-TimeTag:after{content:'';} .css-1tq2rt6-StyledTimestamp-TimeTag{font-family:var(--font-font-stack-retina);font-size:12px;line-height:15px;padding:0px;margin:0px;display:inline-block;font-weight:300;color:var(--secondary-text-color);font-size:14px;line-height:20px;color:var(--color-red);font-size:14px;line-height:20px;}.css-1tq2rt6-StyledTimestamp-TimeTag{font-size:13px;font-weight:350;line-height:16px;font-family:var(--font-font-stack-retina);margin-top:8px;color:var(--secondary-text-color);font-size:12px;font-style:var(--font-style-normal);}.css-1tq2rt6-StyledTimestamp-TimeTag:after{content:'';} 4 hours ago. Binance Sees $2 Billion in Outflows as Troubles Compound 5 hours ago. Jack Ma’s Life After Alibaba Takes Him to a Fish Farm, Fiji and Beyond 7 hours ago. What's News. .css-vhrje3-Link{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;gap:16px;-webkit-text-decoration:none;text-decoration:none;gap:8px;min-width:219px;-webkit-flex-direction:row-reverse;-ms-flex-direction:row-reverse;flex-direction:row-reverse;-webkit-align-items:flex-start;-webkit-box-align:flex-start;-ms-flex-align:flex-start;align-items:flex-start;-webkit-box-pack:end;-ms-flex-pack:end;-webkit-justify-content:flex-end;justify-content:flex-end;height:auto;gap:16px;border-bottom:1px solid #CCCCCC;padding-bottom:16px;} .css-1wxap3u-ContentWrapper{width:272px;} .css-195x1aj-Headline{font-size:18px;font-weight:var(--font-weight-bold);line-height:20px;color:var(--primary-text-color);font-family:var(--article-subhed-font-family);margin:0;font-size:16px;font-weight:var(--font-weight-medium);line-height:24px;font-family:var(--font-font-stack-retina);font-style:var(--font-style-normal);} Sam Bankman-Fried Charged With Bribing Chinese Officials 4 hours ago. Binance Sees $2 Billion in Outflows as Troubles Compound 5 hours ago. Jack Ma’s Life After Alibaba Takes Him to a Fish Farm, Fiji and Beyond 7 hours ago. Lawmakers Scold Fed Over Silicon Valley Bank Collapse 5 hours ago. Russia’s Economy Is Starting to Come Undone 11 hours ago. Trump Grand Jury Won’t Consider Hush-Money Probe Again This Week 4 hours ago. Jamie Dimon to Face Questioning in Lawsuit Over JPMorgan’s Epstein Ties 3 hours ago. Mike Pence Ordered to Testify in Jan. 6 Probe 5 hours ago. Nashville Police Investigate Map, Writings in Deadly School Shooting 5 hours ago. Continue reading your article with a WSJ subscription. Subscribe Now. Already a subscriber? .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;} Sign In. SHEIN : 30% off using this SHEIN coupon code. DoorDash : Limited-Time Deal: Free Doritos Cheesy Gordita Crunch on $15+ orders + free delivery. Vitacost : Knock 30% off your purchase of select Naturvet products with Vitacost Coupon Code. Wayfair : Wayfair Coupon - 20% Off. Nike : Nike promo code: Members save up to 50% on select styles. Walmart : Walmart Spring Coupons, Sales, Deals & Rollbacks - Up to 80% off.