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Leaders with Francine Lacqua

Preview: Shell CEO Wael Sawan on 'Peak Oil Demand'

Leaders with Francine Lacqua

Bloomberg

Management, Business, Careers, Entrepreneurship

4.664 Ratings

🗓️ 6 April 2026

⏱️ 3 minutes

🧾️ Download transcript

Summary

In next week's episode, host Francine Lacqua speaks with Wael Sawan, chief executive of oil giant Shell. Here's a preview of that conversation where he shares his outlook for global energy demand.

See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

I'm CNN tech reporter Claire Duffy.

0:03.2

I cover artificial intelligence and other new technologies for a living.

0:10.7

And even I sometimes get overwhelmed trying to keep up with it all and stay safe in the process.

0:16.7

On the podcast, Terms of Service, we can explore how to experiment with these new tools without

0:22.2

getting played by them. Listen to CNN's Terms of Service wherever you get your podcasts.

0:32.5

Next week on Leaders with me, Francine Lacquins, I speak to Wales-Owan, the CEO of Shell. I'm really excited

0:38.6

about you listening to this interview because he doesn't give many sit-downs. We talked about

0:42.6

pivoting away from renewables, key investment decisions, and his outlook for energy demand.

0:48.1

Here's a portion of that conversation. And as we go into the energy transition, as we go into the world that we're going into, also with the advent of AI and how you leverage AI and what we do with some of the challenges we see on the geopolitical level, we have an opportunity to be able to have the humility to actually step back and reflect how do we change? How do we challenge the paradigms

1:13.2

we have had in the past? And how do we come up with new ways of being able to steward the company?

1:17.7

If you look at the numbers of how much energy we need also to just face the data centers and

1:22.1

AI usage, I mean, the numbers are so big, it's almost difficult to get your head rounded.

1:27.0

Do you have to be a predictor of that? Do you have to foresee the future? Or do you need to just react in a way that's in your control? I think you have to have a clear view of the energy system. And I would agree with you, Francie. And I think at the end of the day, we see that primary energy demand is going to continue to grow for quite some time.

1:46.4

Buy a lot. And it's been happening. I mean, people talk about energy transition. Of course,

1:50.5

what we have been seeing is energy addition. We are at peak oil demand, peak coal demand, peak gas

1:55.7

demand, peak renewables demand, peak bio demand. The world is trying to get its hands on all forms of energy for many of

2:02.9

the reasons that you talked about. So while we cannot predict the future, we have scenarios around

2:07.8

where the world might go, what we can do is sort of really make some very clear deterministic

2:13.9

bets on the future. One is gas for us, for example. You know, we see gas as being a

2:18.9

stabilizing force in energy systems that continue to transform. That allows us to be able to say,

2:24.9

okay, we are one of the biggest, we are the largest international player in LNG, then make sure that

2:30.9

you continue to play that with lower and lower methane emissions,

...

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