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April 5th, 2014:

China a sink hole for Royal Dutch Shell

There are so many things wrong in China and RDS has no idea of what is going on. Investors be aware that it is a sink hole with no financial bottom and the “good ole boy” politics are in play in China.

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Posting on Shell Blog by “Tyler” on 2014/04/05 at 04:04

Let’s talk China.

Shell has made commitment to drill Sichuan Province (press release 03/2014). What the story doesn’t tell everyone is that Shell has spent 1 Billion USD and has yet to find sustainable gas.

It also does not address the fact that Shell China has gone from 9 rigs to 1 rig in Sichuan.

Office staff in Chengdu is over 500 people for a 1 rig operation, by the end of 4Q 2014.

Let’s not forget that Shell China has been put under the US Unconventional Wells group. These are the same ones that screwed up the US Shale Gas Projects. The new manager is Chengdu is an American who came from Alaska, we know how that turned out. read more

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