FT: Shell Expected to Reduce Capex for the Year
by Reuters| Monday, July 20, 2015
(Reuters) – Royal Dutch Shell, which is all set to acquire rival BG Group Plc, may cut its capital expenditure for the year by several billion dollars from the previously announced $33 billion figure, the Financial Times reported on Sunday, citing sources.
A substantial cut to this year’s capital investment might be outlined during the company’s interim results on July 30, the newspaper said.(http://on.ft.com/1fVVwqU).
The paper said the Anglo-Dutch energy company had also told investors that the BG deal works with crude oil at $70 per barrel, citing much greater synergies which will likely exceed several billions, the business daily said.
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