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Home > Finance > Shell CEO says oil major does not have to buy assets anytime soon

Shell CEO says oil major does not have to buy assets anytime soon

Published by Global Banking & Finance Review®

Posted on February 10, 2026

1 min read

Last updated: February 10, 2026

Shell CEO says oil major does not have to buy assets anytime soon - Finance news and analysis from Global Banking & Finance Review

Tags:oil and gas investment financial management energy market corporate strategy

Quick Summary

Shell CEO Wael Sawan indicates no urgent need for asset purchases to meet 2030 targets, despite potential future production shortfalls.

Shell CEO says oil major does not have to buy assets anytime soon

Shell's Future Production and Acquisition Plans

LONDON, Feb 10 (Reuters) - Shell CEO Wael Sawan said on Tuesday the oil major does not have to buy additional assets anytime soon to deliver on its 2030 targets.

Current Production Gaps

In March, Sawan projected a 100,000 to 200,000 barrels-of-oil-equivalent-per-day gap for the company by 2030, but said last week the company has largely covered that near‑term shortfall.

Long-term Production Expectations

Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000 to 800,000 boed by 2035, the company and analysts have said.

(Reporting by Stephanie Kelly and Shadia Nasralla; Editing by Joe Bavier)

Key Takeaways

•Shell CEO Wael Sawan says no immediate asset purchases needed.
•Current production gaps are largely covered until 2030.
•A significant production shortfall is expected by 2035.
•Future acquisitions or breakthroughs are necessary for long-term goals.
•The company is focused on meeting its 2030 production targets.

Frequently Asked Questions about Shell CEO says oil major does not have to buy assets anytime soon

1What is oil production?

Oil production refers to the process of extracting crude oil from the earth, which is then refined into various petroleum products.

2What is asset acquisition?

Asset acquisition is the process of purchasing assets, such as companies or properties, to enhance a business's value or capabilities.

3What is corporate strategy?

Corporate strategy is a comprehensive plan that outlines how a company will achieve its goals and objectives, including resource allocation and competitive positioning.

4What is energy market?

The energy market is a marketplace where energy commodities, such as oil, gas, and electricity, are traded among producers, consumers, and traders.

Shell's Future Production and Acquisition Plans

LONDON, Feb 10 (Reuters) - Shell CEO Wael Sawan said on Tuesday the oil major does not have to buy additional assets anytime soon to deliver on its 2030 targets.

Current Production Gaps

In March, Sawan projected a 100,000 to 200,000 barrels-of-oil-equivalent-per-day gap for the company by 2030, but said last week the company has largely covered that near‑term shortfall.

Long-term Production Expectations

Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000 to 800,000 boed by 2035, the company and analysts have said.

(Reporting by Stephanie Kelly and Shadia Nasralla; Editing by Joe Bavier)

Key Takeaways

•Shell CEO Wael Sawan says no immediate asset purchases needed.

•Current production gaps are largely covered until 2030.

•A significant production shortfall is expected by 2035.

•Future acquisitions or breakthroughs are necessary for long-term goals.

•The company is focused on meeting its 2030 production targets.

Frequently Asked Questions

1What is oil production?

Oil production refers to the process of extracting crude oil from the earth, which is then refined into various petroleum products.

2What is asset acquisition?

Asset acquisition is the process of purchasing assets, such as companies or properties, to enhance a business's value or capabilities.

3What is corporate strategy?

Corporate strategy is a comprehensive plan that outlines how a company will achieve its goals and objectives, including resource allocation and competitive positioning.

4What is energy market?

The energy market is a marketplace where energy commodities, such as oil, gas, and electricity, are traded among producers, consumers, and traders.