Deepwater and Shell pipeline are being rumored to be sold. Sad times. Good luck.
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still Lmaoooooo or has the cool fantasy come to life ?
Downsteam yes, and a few ageing deepwater assets, but not the entire deepwater business.
Exiting North America downstream has been a long slogging effort that just got a swift kick in the a–. Sold all but a couple refineries and Shell has just been s—ing whatever life there is left in the branded gas outlets. They have turned over much of it to non-branded players with licensing agreements. Sell the Washington and Louisiana refineries and Deer Park is already 50% owned by Pemex. There is nothing else left here in the downstream world. They are going to take a freaking bath on those babies. There is a giant "On Sale" sign in front of them right now. For the right price they will find a buyer.
expect some selloffs and layoffs
The Shell's Strategic Organizational Workforce (SOW) initiative is being pulled and revamped as it did not take into account $23 oil. Ben Van Beurden said today in his video on The Hub that there will be no scorecard published in 2020. You can read that as no bonuses for anyone in the number job grades.
Look for deeper layoffs than any one currently working at Shell has ever seen in their entire career at Shell. Not good times, but the company cannot survive for long at $23 oil. I wish they would start with the overstaffed IT department.
Lmaoooooo cool fantasy brah
As radical this speculation seems it has some validity to it.
Shell is looking to exit North America and cash in on its fullest value before the onset of the big oil climate change lawsuit. By cashing in now it will fund the next era of energy generation (wind,solar,biofuels).