403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Dutch Shell to cut spending by fifth
(MENAFN) Royal Dutch Shell has announced its plan to cut spending by a fifth this year, and lay off staff at its American exploration and production business, according to Arab News
The announcement came after the company saw that oil majors are struggling to profit from the booming US shale sector
Ben van Beurden, who was head of refining before being promoted to Shell"s top job at the start of the year, said: "Financial performance there is frankly not acceptable ... some of our exploration bets have simply not worked out.
The announcement came after the company saw that oil majors are struggling to profit from the booming US shale sector
Ben van Beurden, who was head of refining before being promoted to Shell"s top job at the start of the year, said: "Financial performance there is frankly not acceptable ... some of our exploration bets have simply not worked out.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment