"Exxon’s rivals no doubt have aching regret. Almost 30 other companies, including Chevron Corp., passed up the chance to buy into the Guyana discovery. Shell Plc, previously a 50% partner, walked away."
Please tell me whomever was involved in this is not at Shell anymore in any decision making capacity .....
QI team saw the signs clear as day, but they were overruled by the exploration geologists
Shell is still making the same mistakes. The 2 GMs responsible for the Mexico disaster have been promoted. It's an indication that the new EVP has no clue what he's doing.
Here is a link to the full article: Exxon Almost Walked Away From Its $1 Trillion Oil Discovery
https://archive.is/MgqpR
The exploration manager was eventually fired, but not after being promoted! Shell exploration is making similar mistakes today by keeping around and promoting people with equally abysmal track records. How is it that the leaders who advocated for Mexico are still around? The fact the people in charge can't see through these facades tells you everything you need to know about Shell's chances for success in the future.
It seems that XOM making big opposite decisions from Shell are paying off big !
Stays in Guyana, double down on Permian etc ....
"Eugene has mentioned this at his town halls. He tips his hat to the people that advocated for staying in Guyana and seemed to suggest they would have a seat at his table."
Lol they have all been let go ....
Eugene has mentioned this at his town halls. He tips his hat to the people that advocated for staying in Guyana and seemed to suggest they would have a seat at his table.