Shell plc (NYSE:SHEL) Q4 2022 Earnings Call Transcript

Wael Sawan: Thanks, Sinead. Alastair, to the question around longevity. We will go after the most attractive projects that come our way. We don’t have a specific restriction where we’re not going to go into oil or into gas. Clearly, we think we have more gas opportunities at the moment because we’re able to add a lot of value. So yes, we are looking at growing our production in gas. And you can see it through our efforts on Integrated Gas, for example, what we did last year. On oil, what we’re looking to do is to have just a much longer period of ability to be able to produce our oil profitably simply given where the world is. We continue to believe that oil has a role to play. A big part of what we announced a few years ago was how are we going to be able to move to actually prune the portfolio to high grade what we have as an Upstream business.

I think we have done a lot of that, and therefore, what you see right now is a lot more strength and stability in that business, and I’d like to extend that strength and stability into the coming years. Let me pause there, and thank you, Alastair, for the last question. And thank you all for your questions and for joining the call. Wishing you all a very pleasant end of the week and hope that you can join my team at our LNG outlook later this month as well as our annual ESG update in March. Thank you, everyone.