Shell toughens local project hurdles
Matt Chambers
Oil major Shell has laid down tougher hurdles for its Australian projects including Browse LNG off Western Australia and Arrow coal-seam gas in Queensland.
It has cut the oil price at which new projects need to go ahead and flagged a major LNG project pipeline overhaul if its planned $91 billion takeover of BG Group is successful.
Shell chief executive Ben van Beurden said the company would require projects to be profitable near $US50 a barrel of oil, down from previous indications of between $US70 and $US90.
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