Shell chief Ben van Beurden to step down at end of year

Shell boss Ben van Beurden is to step down at the end of 2022, the oil giant has said.

Mr van Beurden will be replaced by Wael Sawan, Shell's head of gas and renewables.

Mr Sawan, a duel Lebanese-Canadian national who previously led Shell's oil and gas production business, was seen as a favourite to take the top job.

He now oversees Shell's growth into low carbon energies as well as its giant gas business.

Mr Sawan said he would "grasp the opportunities presented by the energy transition".

"We will be disciplined and value focused as we work with our customers and partners to deliver the reliable, affordable and cleaner energy the world needs," he said.

Shell's chairman, Sir Andrew Mackenzie, said Mr van Beurden had "been in the vanguard for the transition of Shell to a net-zero emissions energy business by 2050 and has become a leading industry voice on some of the most important issues affecting society".