Shell CEO: The World Will Need More Oil
By Julia Limitone: Published September 08, 2015
During an interview with FOX Business Network’s Maria Bartiromo, Royal Dutch Shell’s (RDS.A) CEO Ben van Beurden said the company is responding with “vigor and determination” to cope with lower oil prices.
“We started off the slide in oil prices with a low gearing 12.4%. Since then, we have been cutting our operating costs, our capital spent quit considerably — $4 billion OPEX, $7 billion capital costs — that’s about a year of dividends that we have saved in a year’s time,” he said.
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