More investor rebellions brew as BP and Shell bosses’ pay comes under fire

USA USA USA: If Prelude is planning to complete a swivel swap out or repair, it is at least 3 months of work. But that is for a typical NS FPSO, the massive Prelude unit is one of a kind. And no spares were manufactured with 2 production paths. (Operating one at temporary high rates could be done.) Based on the news reports it sounds like both production swivels have failed or have leakage into the secondary containment system. Possibly due to the delays in operation? But this is just one piece of the puzzle. Putting the entire upstream processing facility, gas conditioning, liquefaction, storage and export on one site is just asking for problems. You can not comply with NFPA 59A separation distances...

Bill Campbell: Prelude again

Wonder if the Shell Australia Chairman is still pleased with the “progress being made”.

Being pleased with mediocre performance is not the Shell I used to work for.

Bill

Bogus Group: https://www.energyvoice.com/oilandgas/271096/petrofac-new-ceo-asfari-retire/ The revolving door continues to spin, BG Group / Shell ‘executive’ demonstrates cronyism is alive and flourishing. Yes, this was the COO that believed corporate projects could be controlled under (what was eventually validated to be flawed) the Value Assurance process, while he sampled corporate hospitality and champagne at Wimbledon.

Bonus Group: More on Shell's fumblings: https://seekingalpha.com/amp/article/4378196-royal-dutch-shell-energy-transition-woes

Cash all Gone: Looking at the senior executive org charts revealed last week, seems there is not a lot of “Reshape” at that level... Looks like the worker bees will be sacrificed again...

PRELUDE: Looks like Stacey Orlandi never stays long enough in one job for very long. I suppose long enough to be seen and then off to the next one. I wonder what she left behind for others to clear up? Neither did Walter or Malcolm and see where that got us.

The point I find difficult to swallow is her role as Refinery Manager. After two years in procurement in an office somewhere she spends a year as a production Manager and then become THE refinery manager of the Cherry Point Refinery, capable of refining 250k barrels a day plus converting Diesel from biomass etc, a large and complex plant.

Perhaps I guess she was one of a number of under-managers or if not perhaps she can convert water into wine.

Anyway, we shall see.

Bonus Group: Bogus Group, hopefully the Executives will be 'executed' and we will be saying 'goodbye' to these worthless, low integrity, sociopaths to whom probity is alien.

Bogus Group: Does the statement “It is very painful to know that you will end up saying goodbye to quite a few good people. I know I, and many others in Shell, will be saying goodbye to people we know well and really like and who have great loyalty to the company” mean that executives will be saying goodbye to good people, or good people will be saying goodbye to executives?

Bonus Group: https://www.shell.com/media/speeches-and-articles/articles-by-date/can-shell-transform-yes-and-we-will.html

Bonus Group: More on Shell's proposed Upstream cost cutting. https://oilprice.com/Energy/Energy-General/Shell-May-Cut-Upstream-Oil-Operations-By-40.amp.html

Bonus Group: Perhaps time to clear out the Brazil Asset? https://uk.mobile.reuters.com/article/amp/idUSKCN26C0GI

Bonus Group: USA USA USA. BG Group was an Internet Cafe and Cappuccino Lifestyle company that could not get its ducks lined up in a row for the simple reason that it didn't know what a duck is. In consequence, its goose was cooked.

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