“No attempts are currently being made to rectify under-performance in either the refining or the marketing sectors. Refiners, like Stanlow, will be disposed of to others who, if they keep them operating, will have the energy and the skill to make them profitable. Shell doesnt want to do this.”
Posting on Shell Blog by Wilt Staph on Apr 20th, 2010 at 10:06 am
There is a palpable sense that Shell is at the crossroads in so many ways at the moment. The broad strategy, More Upstream, Profitable Downstream reveals more, to insiders, than the bare words may suggest. The truth is that Shell is increasingly an upstream company for many years this business segment has been the primary focus but over the past year or so, and especially under Voser, this has accelerated. Almost any upstream is good one is reminded of George Orwells Animal Farm where the rather similar mantra was Four legs good, two legs bad!. The upstream has four legs and the downstream only two but, reluctantly it seems, bad though it is, some downstream assets and businesses will be held onto so long as they are profitable. No such requirement seems to apply to the upstream! read more
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