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Saturday, August 1, 2015

Shell toughens local project hurdles

Shell toughens local project hurdles

Aug 1st, 2015 
by John Donovan. 
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Screen Shot 2015-07-31 at 19.22.09Matt Chambers: Resources Reporter: Melbourne: 31 July 2015
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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Posted in: Australia, Ben van Beurden, Canada, Gas, Gas-to-liquids, Gulf of Mexico,LNG, Pearl GTL Project, Prelude FLNG Project, Royal Dutch Shell Plc, Simon Henry.
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