Royal-Dutch Shell leaves 10 countries

Royal-Dutch Shell

Royal-Dutch ShellAfter the acquisition of BG, the oil giant Royal-Dutch Shell increased its cost reduction plans and leaves 10 countries. The company plans to sell 10% from its production base for oil and gas, leaving effectively these countries. The integration with BG should lead to cost reductions of over 4.5 billion USD, which is by 1 billion USD more than originally planned. With the acquisition Shell became the leading global supplier of LPG in the world.

Meanwhile, Royal-Dutch Shell announced plans to hold the volume of annual investments by the end of the decade to less than 30 billion USD. In 2016 second-largest oil company in the world is shrinking investments for the third time – to below 29 billion USD, as originally it was intended to invest 35 billion USD.

Like its competitors, the company is trying to help economies to counter falling profits as a result of the drop in oil prices. This year alone the Group axed 12,500 jobs. In 2015, Shell sold business assets exceeding 5.5 billion USD, while until 2018 must be sold other shares worth 30 billion USD.

About the Author

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Viliyana Filipova
My name is Viliyana Filipova and I’m working as content writer and analyst of Business News Feeds Journal. I'm writing about finance statements, business analyze and employment for Central and Eastern Europe, Russia and Middle East.

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