Shell Plc Chief Executive Officer Wael Sawan said oil and liquefied natural gas shortages caused by the Strait of Hormuz blockade could continue for months and potentially into next year.

We’ve been growing in confidence in the posture that the Canadian government has been taking,” Sawan said on a conference call Tuesday, when asked about the possibility of an expansion of the Shell-led LNG project in Kitimat,

DUBAI - The oil and liquefied natural gas (LNG) shortages caused by the blockade of the Strait of Hormuz are likely to drag on for months and possibly into 2027, Shell Plc chief executive officer Wael Sawan said.

Shell bolstered efforts to revive its core oil and gas enterprise with a major acquisition of Canada's ARC Resources.

Shell CEO Wael Sawan joins 'Money Movers' to discuss the company's latest acquisition of ARC Resources, economic themes, and more.

Shell acquires ARC Resources (ARX) for $16.4B in cash and stock, sending shares up 20%. Deal adds 370K boe/d production from Montney basin assets.