POSTING SAT 13 JUNE 2020 ON OUR SHELL BLOG
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“And 8% to 12% currently we don’t even make in our upstream business” BvB… That performance includes the huge over runs on Corrib, Penn Chem, Prelude, multiple other LNG projects, Alaska Fiasco, and many other (not to mention OPL 245).
It is such an embarrassing comparison to ExxonMobil in projects like Liza, which is highly likely to exceed returns Shell is chasing as a utility. Brasil (or Mexico) have the capacity to deliver similar returns to Liza, if there was leadership and strategy for a long term development.
What makes BvB so sure that Shell’s management and culture can exceed the returns of the existing players in the “new energies” this time?
Maybe the job cuts should start at the top… and not the middle where there is some remaining talent left…
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