Shell Spends More on Oil and Gas in Pitch to Woo Wall Street (1)

<-rte-company state="{"_id":"00000188-bb8b-d4e2-a1cb-ff9f37950000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">Shell Plc will devote a growing portion of its annual investment to fossil fuels, underscoring its pivot back to profitable oil and gas as it <-bsp-bb-link state="{"bbDocId":"RW8E24T0AFB4","_id":"00000188-bb8b-d4e2-a1cb-ff9f37950001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">seeks to juice returns to shareholders.

The shift in how the company invests reflects a reset of its strategy, which seeks to focus on businesses that generate the highest returns — and shed those that don’t perform. It’s part of a pitch that Shell’s new Chief Executive <-bsp-person state="{"_id":"00000188-bb8b-d4e2-a1cb-ff9f37960000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Wael Sawan made at the New York Stock Exchange on Wednesday as he tries to convince investors the company’s valuation should be closer to that of its more ...