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Shell’s Vice President, Nigeria and Gabon, Peter Costello, in the latest issue of the company’s in-house journal, has reiterated plans to continue to reduce the cost of operation and improve production availability in Nigeria and also expressed confidence that the company can address the challenges in its operating environment and continue to deliver real value to all stakeholders, The Guardian reports.
He stated: “I know a lot of work has gone into driving costs down and improving our production availability and this must continue. We must understand the criticality of being competitive – we have to generate positive cash flow. No business can keep making a loss and still remain in business. If at the end of my time here, it can be said that we ran a safer, more competitive and better business than our competition, I will be a happy man,” he added.
He also said that he believed the present challenges in Nigeria’s oil and gas industry are surmountable. While speaking on the plans for 2017, Costello stated: “The ‘Fit-for-the-Future’ programme we have embarked on, underpinned by the continued Winning Ways of Working culture change should move us towards sustainable cost competitiveness and operational excellence as we keep a keen focus on our cash delivery. It must be clear to all that ‘improving the business is the Business.”
