Shell profit warning merely a warm-up for what is coming
Shell is fat, slow, and unresponsive to shareholders.
THE SUNDAY TIMES BUSINESS SECTION 26 JANUARY 2014
INSIDE THE CITY: BY DANNY FORTSON
Royal Dutch Shell
BEN VAN BEURDEN, the new boss of Royal Dutch Shell, issued a profit warning nine days ago.
It was, I expect, merely a warm-up for Thursday, when he will announce his first set of annual results.
Industry sources say Van Beurden has identified billions of dollars of assets to write off – thing like its French Guiana operation where it has drilled a series of dry holes.
The question is how far will he go?
Shell is fat, slow, and unresponsive to shareholders.
Van Beurden made a name for himself by whipping the chemicals arm into shape.
lf he plans to do the same at the rest of the company, he has his work cut out.
danny.fortson@sunday-times.co.uk
