According to Ben van Beurden, CEO of Shell oil company: “it is ‘hard to say’ if demand will return
with transition and net-zero key to future investability”. The virus forecast sees next quarter to be
worse and long-term impact devastating for the industry.
Van Beurden said in an interview: “There will be changes, and therefore we have to be ready for
that. That means that we probably have to re-establish what is going to be our strategy.”
Shell has recently cut its dividend for the first time since World War II after the oil prices slump
dragged earnings down 46%.