Consulting companies are actively involved in presenting options for GoA that will soon pass the divestment threshold and will have to added to the decommissioning liability ledger.
How will this affect job security and continuity?
11 replies (most recent on top)
@y8 hold your water big boy. Just because you’re clueless doesn’t mean you can cast dispersion on the man saving this country. Get a grip and slow your roll.
We hired crazy numbers into the AI groups? What are the groups called and what are those crazy numbers?
I haven’t seen or heard anything about this.
@tv This was on LinkedIn about 9 months ago; “Chandra Asri and Glencore buy Shell's Singapore assets for $253 million” if that’s true, I’d say a low offer. Tough to tell because another site said $1B. Nigeria onshore doesn’t seem bottom dollar; considering what we’ve dealt with there for the past several years (pipeline sabotage). Big ticket asset sales otherwise have mostly been selling off stakes like colonial pipeline. Just focusing on hydrocarbon and adjacent. Not wind power which i lean toward a necessary sale. I could be missing others though. Anyone chime in please. Holistically, I wouldn’t say he’s sold bottom dollar just based on cursory online review. He’s drop axes across businesses though. That’s what I criticize. It’s lazy leadership to impose blanket layoffs. Hurting profitable businesses or assets because “everyone needs to give their pound of flesh” is ridiculous. We hired crazy numbers into AI groups to jump on that bandwagon. We are now going back on that just like the big tech companies; albeit much smaller numbers by comparison. We hired so many people after reshape but not into roles that were bringing in money; all for BvBs aspirations. Focus the cuts in those areas. Not profit centers or in groups bringing in money.
@gj what did WL sell at the bottom?
is there is one thing YLs shell is good at, it is selling assets for bottom dollar to pay for stock buybacks
Several old Shell shelf assets bounced back for decommissioning years after divestment. No way to run from this given US bankrupcy laws the smaller companies take advantage of.
If GOA moves to slim harvest mode, it is a cash cow. It is also the only way Shell sees the upside on oil price upswings given PSCs in many other countries. Sparta still being built.
Crazy comment to sell in 2028. Shell might be d-mb enough to do it though.
@bt
Multiple name example:
The Hague, Den Haag, 's-Gravenhage
I wish that they could divest that at a good price.... but realistically there is no beneficial deal to be had. The best that I think they can do re-brand their cr@p as manure.
With no GOA, is there any reason to have a Shell office in the USA? Probably not. Since no USA office and not chance of moving to the US would tank the stock price, there is no chance... stop the silliness
@bq Fortunately, some very old leaders changed the names of Leningrad and Stalingrad. I wouldn't have changed GoM, but one might admit that the gulf touches much more of the USA than it does Mexico. And Mexico lost Texas fair and square due to its own autocracy.
the leadership team at all of shell from top to bottom has said multiple times that “we follow the policies of the countries we operate in.” we already changed all titles and paperwork to gulf of america. there are lots of the places in the world with multiple names depending on who you ask.
Please - Gulf of Mexico; it’s M-E-X-I-C-O
Don’t perpetuate some octogenarian’s altered view of their own self-importance.