No more cheap energy: Shell CEO

Cheap energy is a thing of the past, Shell CEO Jeroen van der Veer told tv programme Buitenhof on Sunday.

‘The trend is for oil to become more expensive and we are expecting higher energy prices in the future,’ he said, pointing to world population growth as the driving factor.
Van der Veer is positive about Shell’s Russian activities, where the company has a 26% share of a large gas project on the island of Sachalin. Should other similar projects arise, Shell would look at them ‘very seriously’, he said.
In Nigeria, where Shell is losing $1.6bn a year in untreated oil through theft, the company is considering offering the Nigerian government $3bn in support to keep up the level of oil production, Van der Veer told Buitenhof.

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