Shell sees end of ‘easy oil’ era

The boss of Shell UK, the London-based arm of the Anglo-Dutch oil company, has warned the era of “easy oil” is over.

In an interview with the BBC, James Smith said that energy companies were having to go to ever more extreme lengths to sustain production.

Shell has been criticised for making huge profits after oil and fuel prices surged to record breaking levels.

However, Mr Smith said the firm could do little to ease consumers’ pain as it needed money to fund future operations.

“The challenges are huge. We’ve now got 30,000 technologists in Shell alone trying to find new ways to get oil and gas,” Mr Smith revealed.