Oil major Shell vows to boost shareholder returns, doubles down on LNG push

British oil major Shell announced plans to increase shareholder returns and cut spending, focusing on its liquified natural gas (LNG) push. The company aims to boost shareholder distributions to 40-50% of cash flow, reduce spending to $20-22 billion per year, and grow free cash flow by more than 10% yearly through 2030. Shell also plans to increase LNG sales by 4-5% annually and keep oil production steady at 1.4 million barrels per day. CEO Wael Sawan emphasized the company’s goal to become the world’s leading integrated gas and LNG business while sustaining a material level of liquids production.

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