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Shell profit warning merely a warm-up for what is coming

 

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Shell is fat, slow, and unresponsive to shareholders.

THE SUNDAY TIMES BUSINESS SECTION 26 JANUARY 2014

INSIDE THE CITY: BY DANNY FORTSON

Royal Dutch Shell

BEN VAN BEURDEN, the new boss of Royal Dutch Shell, issued a profit warning nine days ago.

It was, I expect, merely a warm-up for Thursday, when he will announce his first set of annual results.

Industry sources say Van Beurden has identified billions of dollars of assets to write off – thing like its French Guiana operation where it has drilled a series of dry holes.

The question is how far will he go?

Shell is fat, slow, and unresponsive to shareholders.

Van Beurden made a name for himself by whipping the chemicals arm into shape.

lf he plans to do the same at the rest of the company, he has his work cut out.

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