Shell faces acrimony from investors as well as climate advocates

Executives at both Shell and BP said a growing number of major investors have pressed them to focus on returns, rather than energy transition plans, in the wake of the energy shock.

Shell will likely face one of its most acrimonious annual meetings next week as it struggles to balance investor pressure to capture profits from oil and gas and campaigners saying it must move faster to tackle climate change.

Big Oil firms posted record profits last year amid soaring energy prices following Russia's invasion of Ukraine. The energy crisis temporarily eased pressure on the companies' efforts to slash greenhouse gas emissions as the focus shifted to securing more oil and gas supply.