When Wael Sawan became Shell’s CEO in January 2023, analysts had hopes for an accelerated green transformation. The Lebanese-born Canadian headed the company’s „Integrated Gas and Renewables“ division before his rise to the top job. His promotion to CEO is a „clear sign“ that Shell wants to revise its „vague renewables strategy“, the Guardian quotes an analyst as saying. But last week Sawan canceled the oil and gas giant’s climate goal of cutting oil production by 20 percent by 2030. He already let the red pen circle in spring, ending some offshore wind, hydrogen and biofuel projects. The yield forecasts for these green projects did not convince the top manager.