Shell to cut investment by $15bn over three years

by Glocal Khabar 60 views0

Shell to cut investment by $15bn over three years

29th January, 2015

Falling oil prices are forcing Royal Dutch Shell to cut back investment by some $15bn over the next three years.

The announcement came as Shell announced an increase in profits for the last three months of 2014, which rose to $4.2bn compared with $2.2bn in the same period a year earlier.

Shell to cut investment by $15bn over three years
Shell to cut investment by $15bn over three years

Full year earnings also rose to $19bn in 2014, up from $16.7bn in the previous year.

The company has sold off some $15bn in assets over the last year.

Shell chief executive Ben van Beurden said: “We are taking a prudent approach here and we must be careful not to over-react to the recent fall in oil prices.

“Shell is taking structured decisions to balance growth and returns.”

 

 

 

 

Source : BBC

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