Question · Q3 2025
Lydia Rose Emma Rainforth inquired about Shell's AI deployment strategy, its impact on the cost base, and the company's view on global oil demand fundamentals and how buybacks fit into market uncertainty.
Answer
Shell CEO Wael Sawan highlighted AI's role in operational improvements and trading, and Shell's collaboration with hyperscalers. He noted headwinds for supply-demand fundamentals in 2026, with potential oversupply, but strong conviction in long-term crude and LNG prices. He reaffirmed the 40-50% CFFO distribution target, including buybacks, as sacrosanct.