He declined to say whether Shell is cooperating with a Justice Department investigation of allegations of corruption involving former U.S. Interior Secretary Gale Norton, saying that’s a matter for Shell’s management team.
Posts on ‘October 28th, 2009’
Under Tony Hayward, the company is on the right track, they are doing everything right, said Fadel Gheit, director of oil and gas research at Oppenheimer & Co. in New York. He is cutting costs faster than any other CEO, at the same time as raising production.
Outsourcing more activities to China and India is the next stage, and BP appears to be embracing it wholeheartedly with the recession adding to the opportunity to strike new, long-term contracts. Other oil companies appear to be following BPs lead, with Royal Dutch Shell whose results are out tomorrow heading down a similar path.