Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters.
8 replies (most recent on top)
Energy Transition is at different stages
Europe inc uk and Scandinavia - will make 2050 targets
Asia just woke up, but China has is planning ahead to beat the targets.
USA in denial under President T.
Rest of world - will not make it.
O&G will have another reset in 2021- yes the low point has not actually happened yet.... and then will keep dropping.......sorry.
I don't feel sorry for the IMs that managed to accumulate quite some savings. They can afford a break or change direction because they already have the basics.
I changed to IM a few months ago after years of poor pay as HC. I thought it was a good career change and finally had my opportunity. Now I was kicked and with my age and kids it will be really hard to find something again. Severance pay was ridiculous. Don't really know what to do. You are not what you are worth. You are just a number in a balance sheet.
Comlany will stay the same size... move many jobs overseas to much cheaper labor in...?
Well done to the guy below though i fear things will get far worse.
I never thought it will go this low, released two years ago and so far I am dong excellent, have enough savings for the kid to go to college, luckily I saved a lot during my IM Days.
This is not a show off, but to let you know that life after release could be much better, just be prepared to be uncomfortable and you'll do fine
Hang in there
I agree. The one-two punch has hit the industry with a KO
Oil and gas is done guys. Next 15 years will be dark. Im starting donut shop.
Nothing new here. Traditional model. Same statements back in 2015 when the bottom fell out of oil. There were some successes based on a standardization initiative in the capital product lines that had some positive yields. Every thing old is new again.