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Shell-shocked

Financial Times: Observer: Shell-shocked

The chairman of the Anglo-Dutch oil giant told yesterday’s strategy meeting that things had got so bad that even those French upstarts at Total had been rumoured to be considering a bid.

Posted 24 Sept 04

Pity poor Jeroen van der Veer, who has had to watch the reputation of his beloved Royal Dutch/Shell take such a pounding since the start of the year. The chairman of the Anglo-Dutch oil giant told yesterday’s strategy meeting that things had got so bad that even those French upstarts at Total had been rumoured to be considering a bid.

This would never have happened in the good old days before the reserves scandal and clearly showed how much work Shell has to do to restore its battered credibility, van der Veer said.

Total has meanwhile ruled itself out of a bid for Shell.

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