Thread regarding Shell Oil layoffs

Restructuring at Shell Canada

Any news yet ? No way they are keeping all the staff

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Tomorrow is my last day. Reflecting I say embrace Shell it's still got promise.

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Read post jg downgrade evaluation. 2-6 all downgrades

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1-2 gone because many 3-5 will be leaving as the old culture are out of touch

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Tssp....There you go again!!!!!

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More P&T cuts but this time the right level 1-2 the fat unlike last round 5-3

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I thought PT team and functions moving to CNRL

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yes 20 % headcount reductions in PT and functions. Half now and half in the autumn. Some Houston based staff have already been notified, I understand.

Any one know more? What kind of terms are they being offered?

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I wouldn't be surprised, I heard the samething

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I heard that layoffs will happen again in beginning of September

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looks like CNRL, Suncor, Imperial Oil and Husky are major players in Calgary. The other companies are small and looking for price of oil and gas to go up. This will happen but after 2018 and gradually. But nobody is expecting oil to go higher than 100. Those golden days are over.............

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RDS purchased Shell CANADA about 8 years ago and has systematically screwed up the company since day 1. They have closed the following great pillars of Shell Canada since the hostile take over:

Montreal Refinery

Montreal Lubes Plant

Ottawa ethanol facility

Burlington lubes plant

Sold eastern Canada retail network to sobers

Closed 6 distribution terminals

Sold oil sands.

The Canadian government should sue these Dutch bastards and throw them all in jail.

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Companies are scaling back, walking away from expensive reserves in the ground to focus on lower-first and higher margin opportunities. In February billion dollar bets on Canada oil sands failed for Exxon and Conoco, wound nearly 5 billion barrels of bitumen off their books. This week Shell joined them in pulling back.

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Few of these projects work at a $50 oil price - where the Lower 48 has managed to shed cost, oil sands hasn't. It's not enough to make Canada's oil sands profitable - even some conventional plays are proving expensive at current prices.

Husky, Devon, Statoil, Nexen have all felt the pinch. It's got nothing to do with Europeans killing Shell Canada! Thats just a lazy blame excuse. Many oil sands plays need $100 to break even.... Compared to $40-45 for shake plays in Texas..... Easy maths.

In the long run, the reserves are still there.... Projects already built have reasonable operating costs and decades of production. So they have attracted investment allowing others to refocus their portfolio elsewhere. New projects.... Totally different story. Unpleasant for those earning their living from them, but not the fault of the blame hounds.

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Going forward P&T Canada is at risk

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if it all depends on LNG Canada - that is bad - its a goner. Only reason its still there is it costs too much to close down.

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Europeans have slowly killed Shell CANADA to a small shadow of a once proud company. SHAME on the mongrels.

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Keep all the the stuff? Wake up man they slowly exiting Canada. Everything depends on LNG now.

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Read Post CIAO

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