Thread regarding Shell Oil layoffs

@1fa it’s all BOE that matters…

@13s Shuffles off the stage? He has at least 3 health conditions that are serious co-morbidity. By 2026 the economic and cultural reality falls into place…Dig It!!!!!!

@1pc Decline rates are notionally 7-9%. That gives Shell a runway to do something. Like buy more working interest or something. 2026 is going to be a very formidable year for Shell…

@1qj this is because we have a bunch of UK / Dutch clowns running the show for the past decade plus. The Gulf was a premium asset until the Shell Oil / Royal Dutch Merger.

@1qj+1k2aqaw9v

gonna be really funny when the HQ moves to united states

World class at writing checks to Petrobras lol

@1k1 shell should move all GOM decisions to head office in London or to Rio where they have world class deep water experience at a lower cost. Performance in GOM is average to poor (all projects under deliver) and salaries are double uk or Brazil. Performance in shell GOm is average, but twice to triple the price.

@1pc that is to say, liquids flat is a GROWTH ambition in an environment where all mature assets are in decline

@1fa I don’t think you understand what liquids flat actually means. Decline of core assets like Brazil and GOA are like 20+% per year. To maintain flat production in an environment like that you need to be replacing these lost barrels which Shell is currently not doing an realistically has no way of achieving organically due to the mismanagement and failure of exploration for the past decade plus

@1e5 buddy that’s all great but the fact of the matter is every major oil company, the service companies, etc all call it the GOA. I am not advocating for this, it is FU--ING STUPID to change the name. But that is reality so like uh deal with it lol

@1k1 exploration EVP needs to be sacked.

@1jg

Shell just needs a leader that is willing to move Shell to the US and then replace most of the leadership with some former Exxon execs. That's as good as it gets in the oil and gas industry. Otherwise become a energy trading house like Vitol.

why do you think wael hates revenue?

@1jf+1k2aqaw9v

@1h3+1k2aqaw9v

lol this company is so poorly run and has been for north of a decade

it’s just dying in slow motion under total denial isn’t it

green pivots brought on by european moral grandstanding will be studied in business schools

@1fa
: @1fa+1k2aqaw9v
To be fair, it isn't really even liquid production remains flat; it is liquids & gas to decline. The annual report actually still promotes a decline in production. They might try to stabilize the decline, but it is still declining and declining faster than Shell's peers would do.

Exxon and Chevron both reported record oil and gas output for the second quarter despite weaker prices in international markets. For Exxon, the daily average was 4.6 million barrels of oil equivalent, made possible by continued strong growth in Guyana and the acquisition of Pioneer Natural Resources. For Chevron, the output number was 3.4 million barrels daily, driven by output hikes in Kazakhstan, the Gulf of Mexico, and the Permian. In the Permian, Chevron hit a production milestone of 1 million bpd even as growth in the most prolific shale play begins to slow down.

Europe’s top supermajors, BP and Shell, both reported a decline in production for the second quarter of the year. For BP, the daily average was 2.3 million barrels, which was down 3.3% on the year and the result of a reduction in investments in recent years, Reuters’ Ron Bousso noted in an overview of production trends in Big Oil. Shell produced 2.65 million barrels daily in the second quarter, down 4.2% on the year and the lowest in 20 years amid asset sales and investments in alternative energy sources.

https://oilprice.com/Energy/Energy-General/US-Majors-Pump-Profits-While-BP-and-Shell-Stall.html

@1fa and tell me how that liquids flat promise is looking. From Building D it looks like smoke and mirrors to me.

@1cp+1k2aqaw9v

it’s the ceos direct plan to not produce more oil. literally. no new oil beyond replacing annual decline, only growing gas

i swear the people posting here don’t know anything about shell. it’s actually hilarious.

@zn private companies are not required by law to call geographic areas what the orange mo--n puts in his EOs. EOs are directives to federal agencies, and cannot change existing laws or make new laws. Shell could have just referred to it as “GoA” in correspondence with the federal government and not changed anything else, yet they bent the knee to the idiocrat.

Speaking of results. Maybe changing a bunch of documents and SharePoint sites to placate a demented old fool will help the losers in Deepwater finally figure out how to produce and develop oil. I’m sure your One GOA Mommy will give you a nice pat on your red hat wearing head.

@192+1k2aqaw9v

nothing short of hilarious that people are so out of touch with the companies they come here by choice to post about that they insist this is untrue and call people names

karen energy

@zd buddy every oil company on the planet calls it GOA at this point. It’s stupid as fu-k but that’s just how it is now

Wow, supposed to be commenting on Q2 results yet the jingoistic red cap mob is trying to reshape the topic into their version of alt-reality. GOM is the truth. “Up” is not “down” just because some septuagenarian ordains it.

@14c+1k2aqaw9v

so funny how a certain type of person starts personal attacks then asks if their target is mad

you’re about as tough and smart as a paper towel. i won’t remember this tomorrow, you’ll be ranting about trump until you pass away

@14c everyone knows Latoya Cantrell was the one who drove egg prices down.

@13s

Not going back?!?! The rest of the world calls it (Persian Gulf/Arabian Gulf, Sea of Japan/East Sea, Bombay/Mumbai) and has called it that for hundreds of years. Once (generic witless insult) shuffles off the stage you'll have to change all those documents and titles right back

@11k Not going back?!?! The rest of the world calls it the Gulf of Mexico and has called it that for hundreds of years. Once Cheeto Mu--olini shuffles off the stage you'll have to change all those documents and titles right back.

gulf of america is in every shell job title and document

it’s over. no going back. let the downvotes over the truth fly.

@zn GOM means “Gulf of ‘Murica”

you must not work here

we follow the laws and policies of the countries we operate in

it’s “gulf of america” on every document and job title has been for a while now

you mad?

Stop perpetuating this reference to Shell’s production area as GOA - it’s called the Gulf of Mexico!

If you’ve seen the production forecasts for GOA and Brazil you’d realize it’s going to get much worse than 3.5% decline 📉

Quick!
Initiate stock buy-back/staff layoff cloaking device!