Royal Dutch Shell Plc Communication Breakdown
Nov 2nd, 2019
by John Donovan.
Bloomberg News: Kevin Crowley and Kelly Gilblom:
November 2, 2019: 5:37 AM EDT: Last Updated November 2, 2019 5:37 AM EDT
Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden made an unplanned intervention midway through his company’s earnings conference call in an attempt to lessen the damage from its warning it may fall short of a share buyback target. The move only invited confusion and the shares slid.
Shell positioned itself as the sector’s cash king over the past two years after major projects came on stream and commodity prices rebounded from the crash.
But with weaker economic growth threatening oil demand and crude supplies surging, Europe’s biggest oil company warned that it may not finish a $25 billion buyback program by the end of next year as planned.
FULL BLOOMBERG ARTICLE
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Posted in: Ben van Beurden, Bloomberg, John Donovan, Oil, Oil Prices, Royal Dutch Shell, Royal Dutch Shell Plc, Shell.
Tagged: Ben van Beurden · Oil Prices · Royal Dutch Shell Plc · Shell
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