Shell CEO predicts strong demand for oil and gas despite EV charging station growth in China.
Shell CEO Wael Sawan predicts "very robust" demand for oil and gas in the short and medium term, while also investing $10 billion to $15 billion in low-carbon energy technologies. One area of investment is building EV charging stations, particularly in Asia, where there is a significant penetration of electric vehicles. In China, EV charging customers are coming in twice as much as internal combustion engine customers. The second area of investment is biofuels, driven by regulatory pressures in multiple parts of the world.