过去十年壳牌公司激进的追赶战略过于集中在北美非常规资源投资,即便重归传统的保守风格,壳牌公司经营困境也会持续较长的一段时间。2014年年初,壳牌公司发布了2013年度第四季度盈利预警,预警说受目前油气价格以及下游产业环境疲软因素影响,第四季度利润将不及预期。尽管预警针对的是第四季度,实际上就整个年度经营来看,壳牌的业绩表现不尽人意。 Over the past decade, Shell’s radical catching-up strategy has focused too much on unconventional resources in North America. Even returning to the traditional conservative style will continue the long-term dilemma for Shell. In early 2014, Shell announced the fourth quarter 2013 earnings warning, warning that the fourth quarter profit will be less than expected due to the current oil and gas prices and the weakness of the downstream industry environment. Although the early warning targets the fourth quarter, Shell’s performance has been disappointing in fact throughout the year.