This week, our CEO, Dev Sanyal, participated in the Energy Intelligence Forum in London, joining a panel on “Portfolio Strategies: Seeking Profit and Transformation Objectives” together with Blair Thomas (EIG), Marina Md Taib (PETRONAS), and Maarten Wetselaar (Moeve). The discussion was moderated by Monica Enfield (Energy Intelligence).

He spoke about the importance of evolution in energy — not revolution. The world’s energy system is changing, and we must evolve our thinking and our actions with it. Real progress comes from working with the world the way it is, not the way we would like it to be. That means recognising the complexity of today’s multifaceted environment and taking a pragmatic approach to building our business.

Our "dual engine" strategy is fundamentally about evolving our company in concert with the changing needs of our customers and society.

The investments we make as we evolve are characterised by four elements:

• Investing in short-cycle times that deliver impact
• Managing our portfolio in line with our core capabilities
• Delivering capital and operational discipline
• Building our businesses in line with customer demand

Our announced acquisition of Preem, which is subject to regulatory approvals, is another evolution — a pragmatic investment that amplifies and accelerates our "dual engine" strategy.

VARO Communications
Angela Nemeth
Phone: +41795129421
Email: [email protected]

Brunswick
Will Medvei and Nabhan Malik
Phone: +44 (0)20 7404 5959
Email: [email protected]