Former Shell CEO: Shell at Disadvantage to U.S.-Listed Rivals
4/10/2024
(Reuters) — Shell's former CEO, Ben van Beurden, said on Tuesday that European oil and gas companies will find it increasingly difficult to compete with U.S.-listed rivals.
There are "a deeper pool of investors and capital in New York and the attitude is more positive towards oil and gas companies," van Beurden, who stepped down in 2021, told the FT Commodities Global Summit
"All of this conspires against companies listed in Europe and increasingly this will be a problem," he said.
Shell's shares were "massively undervalued," van Beurden added.
Shell's current CEO, Wael Sawan, was quoted by Bloomberg Opinion on Monday as saying the British company was looking at "all options" including switching its listing to New York from London.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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