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Royal Dutch Shell to Cut Spending Amid Lower Oil Prices
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Shell plans to cut $15 billion in capital spending over 3 years, and pull back on shale investments, in response to the drop in oil prices below $50 a barrel in 2015. Shell's CEO Van Beurden says the company will continue to focus on capital efficiency and project delivery and make prudent investments. Since taking over Van Beurden has pulled back from big spending, cut costs, and focussed on capital efficiency.
Royal Dutch Shell's response to the drop in oil prices below $50 a barrel in 2015
01/29/2015
Shell will cut investment spending by $15 billion over 3 years, pull back from investments in shale, freeze dividend payments.
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