British energy giant Shell is boosting its oil and gas production to book profits in the near term.
Shell CEO Wael Sawan doesn't know where oil and gas demand is going to be in 10 to 15 years, he told CNBC's "Squawk Box" on Wednesday.
The reality is, we don't know," Sawan told CNBC.
But in the short and medium term, Shell sees "very robust" demand for oil and gas, Sawan told CNBC.
Demand for biofuels is being driven by regulatory pressures in multiple parts of the world, Sawan told CNBC.
Persons:
It's, Wael Sawan doesn't, CNBC's, Sawan, Shell, EVs
Organizations:
Shell, CNBC, EV, International Energy Agency
Locations:
Wuhan, Hubei, China, British, Asia, Europe