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2015-11-05 19:20:00

SHELL WILL SELL $20 BLN

SHELL WILL SELL $20 BLN

Royal Dutch Shell announced organizational changes in its business as it prepares for its biggest ever takeover amid what it expects to be a prolonged downturn in oil prices.

Europe's biggest oil company will run its natural gas business as a "stand-alone organization" led by Maarten Wetselaar, who will become integrated gas director and a member of the executive committee, Shell said in a statement on Tuesday.

Marvin Odum, currently director of the company's upstream unit in the Americas, will lead a new unconventional resources unit, including heavy oil and shale activities in the Americas.

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Tags: SHELL, BG, EUROPE
Chronicle:
SHELL WILL SELL $20 BLN
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