• 4 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 7 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 10 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 13 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 2 hours Visualizing How Much Oil Is In An Electric Vehicle (Hint: a heckuva lot)
  • 2 hours Theresa May to Step Down
  • 13 hours Total nonsense in climate debate
  • 13 hours IRAN makes threats, rattles sabre . . . . U.S. makes threats, rattles sabre . . . . IRAQ steps up and plays the mediator. THIS ALLOWS BOTH SIDES TO "SAVE FACE". Then serious negotiations start.
  • 3 hours Look at the LONGER TERM bigger picture of international oil & gas. Ignore temporary hiccups.
  • 16 hours Will Canada drop Liberals, vote in Conservatives?
  • 1 day IMO 2020 could create fierce competition for scarce water resources
  • 17 hours Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
  • 17 hours Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 9 hours Australian Voters Reject 'Climate Change' Politicians
  • 13 hours Apple Boycott in China
The Myth Of Cheap Shale Oil

The Myth Of Cheap Shale Oil

According to the Federal Reserve…

The Oil Price Tug Of War

The Oil Price Tug Of War

Oil markets have been relatively…

Shell Shocks the Market with Appointment of New CEO

In May 2013 Peter Voser, the chief executive officer of Royal Dutch Shell, shocked the energy world when he announced his desire to step down from the top job after less than five years, in order to spend more time with his family in Switzerland.

Shell, Europe’s largest oil company, has just made another surprising announcement by appointing Ben van Beurden as the man to succeed Mr. Voser on 1st January 2014.

Mr. van Beurden, who took over as the head of Shell’s large marketing and refining business in January 2013, is considered a surprising choice due to the fact that he beat far better known candidates for the job, such as; Andrew Brown, head of exploration and production; Marvin Odum, head of Shell’s Americas division; and Simon Henry, the chief financial officer and favourite to win the post.

Rail v. Pipelines: Shell Find more Oil in the Gulf of Mexico with Vicksburg Exploratory Well

Ben van Buerden
Ben van Buerden. (rtlnieuws)

Peter Hutton, an analyst at RBC Capital Markets, stated that “this will be something of a surprise to analysts. However, it was always clear that Shell would appoint the person it felt had the best combination of skills for the job, not necessarily the best known to the external community.”

For 10 years Mr. van Beurden has played a key role in the development of Shell’s liquefied natural gas (LNG) business, helping turn the company into the world’s leading publically traded company in the LNG market.  Shell has shown a great desire to focus on natural gas and LNG, and it could be this experience that pushed him ahead of the other candidates.

Related article: For Better or Worse, Big Oil has Big U.S. Future

Jorma Ollila, Shell’s chairman, stated on Tuesday; “I am delighted to announce Ben van Beurden as the next Chief Executive Officer of Royal Dutch Shell. Ben will continue to drive and further develop the strategic agenda that we have set out, to generate competitive returns for our shareholders.”

Unlike many other oil majors, Shell prefers to invest in large, long-term projects that maybe offer less potential for large profits, but also offer steadier returns with far less risk.

The desire to expand into the natural gas market, especially to take advantage of the growing demand coming from China, and other developing countries, has led to the construction of the $20 billion Pearl gas-to-liquids plant in Qatar. LNG and gas to liquids offers a far more modest return than oil exploration and production, but analysts say that they produce steady cash flow for many decades, with very little additional capital expenditure.

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News