Shell drops target to cut oil production as CEO seeks to boost profits

London, UK – responding to the news that new Shell CEO Wael Sawan plans to cut oil and gas reduction targets and increase share buybacks to in quest for even higher profits, Charlie Kronick, Senior Climate Advisor at Greenpeace UK, said: ““Shell’s production cut was always a joke, allowing oil production to fall more slowly than natural decline while boosting gas production at the same time – now they’re showing their true colours.

“From wildfires in Canada to drought and flooding in East Africa, the effects of climate change are already devastating lives and livelihoods around the world. Yet Shell and their competitors remain determined to squeeze every last drop of profit from their dirty oil and gas operations.

“The writing is on the wall for oil and gas but Wael Sawan is refusing to read it. Fossil fuel greed is putting all of us at risk. We urgently need concerted global action to force the industry to stop drilling, and start paying for the damage they cause to our planet and the people who live on it.”