Shell CEO Wael Sawan said on Tuesday he sees the company’s competitive edge in Venezuela in gas rather than heavy oil and that Shell will continue to pursue opportunities there. In June Venezuela signed five agreements with Shell to advance oil and gas projects, including the high‑profile Loran offshore gas field—estimated at about 7 tcf.

2026-10-06

Shell CEO Wael Sawan said on Tuesday he sees the company’s competitive edge in Venezuela in gas rather than heavy oil and that Shell will continue to pursue opportunities there. In June Venezuela signed five agreements with Shell to advance oil and gas projects, including the high‑profile Loran offshore gas field—estimated at about 7 tcf.