By John Donovan
Today has proven to be one of the more lively days on Live Chat.
One outspoken contributor claimed:
“Shell remains a top dog among oil companies”
Someone quickly took issue with this assertion, observing:
Top Dog? The description of vd Veer, Brinded and Cook that I heard very recently from a very senior person in Shell was “headless chickens”.
In this connection we received information this afternoon that many people at the top in Shell now regard the company as a lost cause. According to one source the Pearl project is being hyped up on the basis that Shell still has two more years to dream up excuses for start-up delays.
Apparently leaks are being to emerge about impending serious problems and potential disasters throughout Shell’s EP activities.
Canada
We have recently reported that in Canada, Shell does not appear to have enough tar sand available to feed the processing plant and as a consequence is being forced to purchase tar sand.
Sakhalin-2
We have published articles about further delays, more cost increases, environmental set-backs, funding problems, and more scandal surrounding the project. We anticipate publishing SEIC/Shell internal email and internal documents soon relating to a court case commencing in April in which alleged corruption in the awarding of construction contracts is involved.
The common thread on the elephant projects appears to be senior management incompetence, with a lack of long term planning in order to focus on short term fixes for reserves shortages and cost savings.
Malaysia
With the political upheaval currently underway in Malaysia, Shell’s cozy relationship with a corrupt government and the National energy giant PETRONAS, may change and not for the better as far as Shell is concerned. The days of being able to buy influence in Malaysia are hopefully coming to an end.
There is also talk of consolidation, which means the BP/Shell merger plans may be resurrected.
Perhaps we may know more tomorrow. There is speculation that a major announcement is in the pipeline.
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