I’ll go first:
Q: Why did Shell exit Guyana?
A: #ThatsAGoodQuestion #ThisIsShell
7 replies (most recent on top)
@h8 talk to computational team at stcb they have all solutions
Because we love giving freebies to Exxon and we hate spending money
@OP Because geologists said there is no oil that we can produce. Or the risk wasn’t worth the investment.
@b6 when was the last major project Shell built that was on time, on budget and profitable? Prelude and PennChem both were north of $15B total and both have had operational issues. Shell seems to go in and out of polymers every 10y. Back in early 1990s, Shell bought Goodyear chemical to only sell the business 10y after. The last 2 major project failures is why P&T is getting axed. They don’t really add any value.
@ah lol how did BVB ever get that past the board? We divested Kraton polymers in 2003 to turn around not even 5 years later and say, “ you know what shell chemical should do? Get into polymers.” That decision took another 13 years before we built it. Is it even profitable yet? I don’t think it’s been operational for a whole year yet. Maybe? That’s beyond embarrassing and I don’t understand why our LT keeps getting slack to make sh-t decisions. $14 billion for a polymer plant that won’t be profitable or paid off for years.
@ah Shell being Shell: walking away from good opportunities, doubling down on bad decisions, and then calling it “strategic discipline.” #ThatsAGoodQuestion #ThisIsShell
Because Shell decided to instead waste the billions on a polymers plant in Pennsylvania.