“There is plenty to compete over, but we do not need custom-made valves… or even 50 shades of sub-sea yellow,” Statoil chief executive Eldar Saetre said on the first day of an industry conference in Stavanger, Norway, this week. He, in effect, set the tone for many discussions there on how the industry must change its culture of doing business and increase collaboration if it wants to stay afloat when oil prices are lower.
“All the people have complained to me that it was very hard to develop a project in such conditions. But… today’s weather is just perfect – so, I do not understand why you have issues,” Total chief executive Patrick Pouyanne joked at the inauguration ceremony of the Shetland gas plant (SGP) yesterday. It was Pouyanne’s first visit to the Shetlands, the UK’s northernmost inhabited islands, more than 160km north of mainland Scotland.
In the run-up to the referendum on the UK’s membership of the EU in June, Norway will undoubtedly be mentioned again and again by both sides as an example of a prosperous European country outside the EU. The two countries, while quite different in many respects, have at least one thing in common — the task of recovering still-vast offshore oil and gas reserves.
February is traditionally a busy month in the corporate calendar, as companies report their fourth-quarter and full-year earnings, and often provide guidance for the new year and beyond. And it is not unusual for companies, their investors and business journalists to disagree on what are the main metrics of the firms’ performance.
“I am delighted with the positive shareholder vote and the confidence that shareholders have shown in the strategic logic of the combination of Shell and BG,” Shell chief executive Ben van Beurden said today, after his company’s investors voted in favour of Shell taking over UK firm BG next month.