20th Jul 2015 05:31
THE HAGUE (Alliance News) - Royal Dutch Shell PLC may cut its capital spending for the current year by several billion dollars from the previously announced spending of USD33 billion, reflecting project deferrals, the Financial Times reported.
A substantial cut to this year's capital investment may be outlined at its interim results on July 30, the report said.
The paper said that Shell expects billions of dollars more in savings from its proposed GBP55 billion takeover of BG Group than previously disclosed as it uses the enlarged company's scale to slash costs in its deepwater oil business and natural gas trading arm.
The Anglo-Dutch energy company has told investors and analysts that so-called "value synergies" are likely to be "a multiple" of the USD1 billion in annual projected savings from merging head offices and other cost-cutting.
Copyright RTT News/dpa-AFX
Related Shares:
RDSA.LRDSB.LBG..L