By John Donovan
According to an article by Dominic O’Connell published in a whole page article in The Sunday Times on 9 November 2014, Prelude is in danger of becoming a white elephant. (See page 5 of the Business Section)
The article correctly describes Prelude as the brainchild of Royal Dutch Shell (unless it turns out that Shell pirated the technology).
Shell is described as a venerable oil and gas company said to have a history of making big plays that might not generate dividends for decades.
Dominic O’Connell correctly points out that the shale boom in the USA has driven down the price of gas – hence the danger to Prelude.
The references to Prelude are contained within an article about the “best value-for-money Chief Executives.”
According to research revealed in the article, Royal Dutch Shell over the past four years, has had the best value-for-money chief executive in the FTSE 100.
Extract
For every pound paid in compensation to Ben van Beurden and his predecessor Peter Voser, shareholders have received £3,803 – narrowly beating Nicandro Durante at British American Tobacco (BAT), who returned £3,737.
There is some more promising news, not from the article, but from information I have received.
Shell insiders have made increasingly positive comments about Ben van Beurden.
It seems Shell may have its best leader for a long time.
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