Shell says Singapore energy, chemicals assets under review
https://www.reuters.com/business/energy/shell-says-singapore-energy-chemicals-assets-under-review-2023-06-14/
Thoughts? Should a new hire join? Morale is low..
Shell pulls plug on two projects in S’pore, but remains committed to other operations
https://www.straitstimes.com/business/shell-pulls-the-plug-on-two-projects-in-s-pore-but-remains-committed-to-other-operations
“ Companies that are reviewing Shell’s Singapore assets include Asia’s largest refiner, China’s Sinopec”. That’s great. Lower your own carbon footprint by selling to the largest communist polluter in Asia. That’s real environmental responsibility.
https://www.businesstimes.com.sg/singapore/shell-taps-goldman-sachs-explore-singapore-refinery-sale-sources
Shell Singapore continue to operate indefinitely (sauce: trust me bro)
Oh watch out, the divestment queen Yap landed in Singapore nearly 2 years ago after selling Deer Park, Puget Sound and Martinez Refineries in the US. This was being planned well in advance, now it is execution mode.
Shell Singapore has been for decades losing money. If not for a fact that the Singapore govt holds a big chunk of shares, the place would have imploded a long time ago.
An advise to someone young looking at joining. Look elsewhere. It would be disruptive if you were to be laid off right at the time you are building up your family. FYI, they have been retrenching large groups of people every decade or so and it looks like the frequency is getting shorter.
Shell SG has only a few good assets like Seraya and the ECC. The rest of the units are pulling these two down. Bad management is to blame for this degeneration of the plant and profit. Cronyism and nepotism is rife. Be on the good books of the big guy or the spawn of somebody and you will rise. You may imagine the scale of incompetence when oil theft/heist by the tanker loads have been going on for years.
Absolutely no other sane entity will be willing to buy over those assets. So eventually they will be demolished and Shell will try hard to retain the good units in the hope of making some profit but I doubt it will pan out that way. Eventually it would be turned into a tanks storage facility. If so, it would be an uphill task to make it profitable as management is clueless about motivating the workforce to be more productive. But also then it is a conundrum that Shell has designated Philippines as Asia's storage hub.
Shell could try bringing in older experience-proven expatriates and totally remove from site, the first 3 layers of the top mgmt to see if they can turn things around. Or fire them altogether for decades of failures.
Eventually all of Downstream will be 'under review', just look at what's happened in the last 20 years
Graduate can join if still hiring. They mostly look at candidiates with potential leadership capability. Eventhough lack opportunity in SG, the person can be posted out from SG if he has potential. Experience professional mostly should avoid joining. Sinking ship with old timers staying till sunset retirement. Almost no chance to rise.