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2015-01-31 15:20:00

SHELL CUTS $15 BLN

SHELL CUTS $15 BLN

Royal Dutch Shell PLC has curtailed more than $15 billion in potential spending over the next 3 years, but is not "not overreacting to current low oil prices," and is keeping its "best opportunities on the table," the company says.

"Our strategy is delivering, but we're not complacent," explained Ben van Beurden, Shell chief executive officer. "The agenda we set out in early 2014 to balance growth and returns has positioned us well for the current oil market downturn. However, lower oil prices and the impact of our 2014 divestments will likely reduce this year's cash flow."

Shell says this year should see further…

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Tags: SHELL, 2015, INVESTMENT, OIL, PRICES, LNG
Chronicle:
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