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Monday, Oct 7
Outgoing CEO regrets Shell's big bet on U.S. shale gas
- In a valedictory interview with Financial Times ahead of his imminent retirement, Royal Dutch Shell's (RDS.A, RDS.B) Peter Voser says he regrets the huge bet on U.S. shale gas that led to a $2B-plus writedown and of the setbacks at the company’s exploration efforts offshore Alaska.
- FT thinks Voser leaves Shell in better shape than he found it, when growth had stalled and the company was rocked by an accounting scandal.
- Goldman Sachs thinks Voser's departure and the arrival of Ben van Beurden will be the catalyst for a more focused capital approach and accelerated divestments.