Posting on Shell Blog by a Shell Insider (a reliable high level source known to us)
Having seen all the EC-1 and -2 appointments and from many discussions I have with colleagues, it has become clear to me that Voser and Brinded et all want to get rid of critical thinking people in general and Petroleum Engineers in particular, i.e. just the people who have know-how on essential matters such as reserves and production forecasting.
The reserves reporting is now solidly in the hands of lawyers so easy to manipulate for Brinded (above). The overoptimistic production forecasting, a great hobby of our beloved and surpreme leader in Upstream, will now go unchallenged by people with genuine know-how.
Mr Percival wrote a while ago he had full confidence in the technical capability of Petroleum Engineering in Shell. I am curious if he is about to change his mind.
And as Shell goes deeper in dept and the gearing goes up, the rating can only go down. It is very obvious that Voser is trying to sell off Shell in bits and pieces to prop up his cashflow.
Anyone out there taking bets on how long Shell will exist?