It comes as Shell looks to shift its business away from oil and gas towards greener sources of energy.
But its hybrid approach has risked alienating traditional investors focused on profits, while failing to appease more activist investors concerned about climate change.
Mr Sawan said he was focused on a two-and-half-year turnaround plan, which he dubbed a “sprint”, aimed at slimming down the company and boosting its valuation.
Shell is aiming to reduce operating costs by up to $3bn (£2.4bn) by the end of next year, lower its capital expenditure range to between $22bn and $25bn and target shareholder returns via dividends and buybacks of up to 40pc of cash flow.
The energy boss said the current undervaluation presented a “fantastic investment opportunity”, adding: “I will keep buying back those shares, and buying back those shares at a discount.”
But he pointed to the gap in valuation between Shell and its New York-listed rivals Exxon Mobil and Chevron and acknowledged the company may have to take more drastic action if that gulf is not resolved by the end of next year.
Mr Sawan told Bloomberg: “If we work through the sprint, and we are doing what we are doing, and we still don’t see that the gap is closing, we have to look at all options.”
Any decision to move Shell’s primary listing away from London would need to secure at least 75pc approval in a shareholder vote.
It comes only three years after Shell scrapped its dual listing structure, moved its headquarters from the Netherlands to the UK and ditched “Royal Dutch” from its name. At the time, the move was hailed as a vote of confidence in Britain.
Yet a string of disappointing initial public offerings and investor pessimism over the UK economy has sparked an exodus of companies across a range of sectors.
