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Posts on ‘January 21st, 2014’

Shell EP: The lame being led by the blind

Screen Shot 2014-01-14 at 14.34.31So the shock of not becoming number one was too big for Andy Brown. I wish him a speedy recovery and thereafter he should go spend quality time with his family and enjoy his earnings. Wetselaar is no doubt a brilliant finance man. But a finance man is really a failed banker, not good enough for the real thing… And this brilliant fellow will ‘lead’ the whole upstream as a part-time job? Has Shell not learned from the past what happens if you put beancounters in charge?

Comment from an old EP hand on Jan 21st, 2014 at 16:19 

The lame being led by the blind: So the shock of not becoming number one was too big for Andy Brown. I wish him a speedy recovery and thereafter he should go spend quality time with his family and enjoy his earnings.

On shell.com I read the following:

‘During Andy’s recuperation and until his return to work, Maarten Wetselaar, Executive Vice President Integrated Gas and former head of finance for Upstream International, will serve as acting Upstream International Director, in addition to carrying out his regular duties.’ read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Rev Your Engines: Royal Dutch Shell Plc Looks Ready To Motor

2013 was another non-starter for Royal Dutch Shell (LSE: RDSB) (NYSE: RDS-B.US), and days into 2014 it stalled again. On Friday, Shell issued a profits warning, predicting adjusted earnings of $2.9 billion for the three months to the end of December, well below City expectations. It blamed oil and gas prices and difficult industry refining conditions. I was as disappointed by any investor, because I was hoping it would start the year with a clean slate, following the appointment of new chief executive Ben van Beurden. But now I’m over the shock, I am hopeful that Shell is finally going to start motoring again. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell rethink on LNG looms large

Whether it is 400 or 600 staff that are destined for redundancy (depending on which rumour you believe) there is a clear pattern that Arrow (Shell’s investment vehicle in Queensland LNG) in a joint venture with PetroChina is looking to downgrade its expenditure in Queensland.

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Business columnist: January 21, 2014

The new management broom at Shell’s head office is arguably going to have a bigger impact on Australia than the changing of the guard at even a large local company.

Shell’s new international boss is clearly rethinking the economics of the company’s Australian investments – which includes Woodside, the refinery operations in Geelong, but more immediately the $20 billion Queensland-based LNG and various West Australian LNG projects.

Development of LNG was what the government was betting on to replace a large portion of investment in iron ore and coal as a driver for economic growth. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell sells £700m of natural gas assets to Kuwait

Screen Shot 2013-10-01 at 07.56.54Chief executive says disposal of stakes in two Australian businesses, which follows shock profit warning last week, is evidence of ‘hard choices’ being taken

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By 9:24AM GMT 20 Jan 2014

Royal Dutch Shell has sold its stakes in two Australian natural gas businesses to Kuwait’s state energy giant.

The company announced on Monday the $1.135bn (£691m) disposal of its 8pc interest in the Wheatstone-Iago joint venture and 6.4pc in the Wheatstone liquefied natural gas (LNG) project in Western Australia to the Kuwait Foreign Petroleum Exploration Company (KUFPEC), a subsidiary of the Gulf state’s national oil company.

Ben van Beurden, who recently took over from Peter Voser as chief executive, said Shell was “refocusing our investment to where we can add the most value with Shell’s capital and technology”. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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