POSTING ON SHELL BLOG 2 FEBRUARY 2012 BY ” AN OBSERVER OF SHELL”
This decent and down to earth Swiss financeman is trying to tell the world that Shell will increase production from North Sea fields by extending the life of these fields (Sky Sunrise interview).
I am taking bets with some friends this will not happen. All observable actions by Shell is that they are retrenching from the North Sea. Voser emphasised that there will be a lot of job creation in the UK .. Now, where have we heard this before????
And he says (Bloomberg story):
Shell will increase production to about 4 million barrels of oil equivalent a day in 2017-2018. Last March, it said daily output would rise to 3.5 million barrels this year and 3.7 million barrels by 2014?.
Promises, promises, promises. This translates into bonuses and a bit later in new insights or other factors that could not be foreseen. I give it to him he is not as audacious as Brinded who predicted 7-8 years ago that Shell would be doing close to 6 mln bbl/d around now.
I am not calling the man a liar. I would not dare to with his army of lawyers in Shell. But how should we call someone who not speaketh the truth?
Shall we keep it as tarred with the same brush as Brinded?”
BLOG POSTING ENDS
Note added by John Donovan
Malcolm Brinded is the former Managing Director of Shell UK’s offshore oil and gas operations and is closely associated with the Shell “TFA” safety culture, which resulted in an explosion and deaths on the Brent Bravo platform. He is currently Executive Director Exploration and Production for Royal Dutch Shell plc.