The Telegraph is reporting that, just two years after saying ¡Adios! to the Netherlands and relocating to London, Shell is now considering shouting ¡Hasta la Vista! to London and the UK and relocating to…wait for it…¡Ciudad Nueva York! Bemoaning his company’s underperformance compared to US peers ExxonMobil and Chevron, Shell CEO Wael Sawan is quoted by the Telegraph as saying, “The company is massively undervalued…the share price today is at an all-time high, but it could be significantly higher from where it is today.” He said a host of factors “conspire against the [companies] listed in Europe.”
We've been here many, many times before with non-execs on expenses. If they want to leave, please do so - and give us back our tax cash. It does look like the CEO wants to do shopping in NY rather than London.
I have came to the conclusion that these large energy companies will follow govt. mandates to the letter. During my working career in power gen companies, I have watched and worked in companies such as DUKE energy and Champion International sink billions of dollars into cleaner tech only to turn around a few years later and tear it out to ship to China and India to be returned as what ever pot metal the Chinese are selling us as Stainless steel, but is definitely NOT stainless steel.
The local Duke and Champion plants are gone now, a mere 15 years later.. both were high paying union jobs.
I have to add that Duke's plant is still there, but what was once two 11 story coal boilers and three co gens with scrubbers attached is now 6 gas turbines.. nothing else is there..except a small fraction of control room personnel.
We've been here many, many times before with non-execs on expenses. If they want to leave, please do so - and give us back our tax cash. It does look like the CEO wants to do shopping in NY rather than London.
They really hurt themselves with that last Woke Euro CEO who finally got shown the door, maybe Shell can recover from lameness?
I have came to the conclusion that these large energy companies will follow govt. mandates to the letter. During my working career in power gen companies, I have watched and worked in companies such as DUKE energy and Champion International sink billions of dollars into cleaner tech only to turn around a few years later and tear it out to ship to China and India to be returned as what ever pot metal the Chinese are selling us as Stainless steel, but is definitely NOT stainless steel.
The local Duke and Champion plants are gone now, a mere 15 years later.. both were high paying union jobs.
I have to add that Duke's plant is still there, but what was once two 11 story coal boilers and three co gens with scrubbers attached is now 6 gas turbines.. nothing else is there..except a small fraction of control room personnel.