Shell Not Rushing to Buy Assets to Boost Reserves
Market Intelligence Analysis
AI-PoweredShell's CEO stated that the company does not need to buy assets immediately, despite needing to fill a resource gap over the next decade due to declining oil reserves.
Market impact analysis based on bearish sentiment with 70% confidence.
Article Context
Shell does not have to buy assets anytime soon, chief executive officer Wael ?Sawan said on Tuesday, as analysts and the company itself have said that the supermajor needs to fill a resource gap over the next decade. Shell needs an exploration breakthrough or a big merger after its oil reserves fell to the lowest levels since 2013, according to analysts. The so-called ‘reserve life’— denoting how long Shell’s proven reserves can sustain production at current levels—has dropped to below 8 years, significantly lower…
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