CHRISTINE TISCARENO | STANDARD & POOR’S
This is a small sale for Shell but they are under shareholder pressure to streamline their portfolio. They have to be more picky now. We saw the profit warning coming from mid-2013 due to problems in Nigeria. I think 2014 will be an annus horribilis for Shell, but things should improve in 2015.
BRENDA KELLY | IG
Shell is focusing more on capital efficiency now and divesting assets. I’d expect a bit more downside to the share price though, due to weakening oil prices. In terms of the timing, it seems like they’re looking to get the bad news out of the way before the results come out at the end of the month.
MALCOLM GRAHAM-WOOD | OIL AND GAS ADVISORY
Shell sold [the stakes] for a modest $1.135bn – not what they expected when they started the process I imagine – but this is just the beginning of the knife being wielded. Friday wasn’t so much of a profit warning, more a gentle nudge, but will push the new chief into some bigger, braver spending decisions.