Shell's Watts: Industry needs more innovation, investment

The oil and natural gas business is far from being a "sunset industry," but innovation, investment, business transformation, as well as recruiting and retaining the right people are crucial, said Philip Watts, chairman of the Royal Dutch/Shell Group.While speaking during an Institute of Petroleum annual dinner in London, he called upon the industry to remain "as vigorous and creative today as it ever has been."He said, "If ours is a sunset industry, it is going to be a long, cold, and dark night. Modern society depends on secure energy supplies. We face great energy challenges, nationally and globally—meeting them is fundamental for our future."Watts went on to say that events in th...

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