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.

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Comments (3)
  • john001
    , contributor
    Comments (1199) | Send Message
    How can FT believe Voser left shell in better shape after his admission that he screwed up on NA gas, and with more write downs to come.
    7 Oct 2013, 12:06 PM Reply Like
  • dutchduke
    , contributor
    Comments (58) | Send Message
    voser was blessed with some of the best oil pricing throughout his tenure and still couldnt do a damn thing with it.


    he does not understand the E&P business or how to effectively interact with wall street; glad he is leaving but looks like the same old at rds....
    8 Oct 2013, 10:38 AM Reply Like
  • Jan H. Lessner
    , contributor
    Comments (1102) | Send Message
    Compared to BP RDS is in a better shape. Voser hasn't unlocked the potential of the company but on the other hand he hasn't damaged it.


    You could say, that his idea has been to focus RDS on natural gas and if global NG prices rise, RDS should outperform peers. Further Voser made the decision to invest in the FLNG Prelude. This will be a unique proposition of RDS.


    But of course there are some topics he hasn't got fixed, f. e. this Alaska adventure.
    17 Jan 2014, 01:29 PM Reply Like
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