You are here

Shell takes US$2b charge to quit oil-sands project

It is halting work at Carmon Creek after deciding the development couldn't compete in its portfolio

"We are making changes to Shell's portfolio mix by reviewing our longer-term upstream options worldwide, and managing affordability and exposure . . ."said Mr van Beurden.


ROYAL Dutch Shell plc made its second major strategic change in as many months, announcing it will take a US$2 billion charge as it shelves an oil-sands project in Alberta after walking away from an Arctic drilling programme.

Shell is halting work on the 80,000 barrel-a-day