SHELL CUT PLAN BY $2 BLN
Royal Dutch Shell PLC on Tuesday cut its planned capital spending for 2016 by $2 billion, to $33 billion, continuing to cope with low oil prices as it moves to complete its acquisition of BG Group PLC early next year.
The spending announcement came as the Anglo-Dutch oil company published several key documents on its website in preparation for the main remaining hurdle to the deal: a shareholder vote, scheduled to take place in January. In the months since the deal was announced, some investors have expressed concerns about its cost in the face of tumbling oil prices—an issue Shell's management has been at pains to address.
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.