Capital spending will fall to $37 billion this year from $46 billion in 2013, Shell said, adding that for the time being it was also scrapping a controversial exploration programme in Alaska.
Shell to cut spending and step up disposals in 2014
Jan 30 (Reuters) – Anglo-Dutch oil company Royal Dutch Shell on Thursday said it would step-up disposals and cut spending as it seeks to win back investors with a new focus on returns, less than two weeks after a shock profit warning.
Shell, the world’s no. 3 investor owned oil company, earlier this month issued a “significant” profit warning for the quarter to the end of December, detailing across-the-board problems just weeks into the tenure of new boss Ben van Beurden.