Shell culling 6,500 jobs, raising spending cuts to weather low oil prices
It plans more asset disposals while pushing ahead with its proposed US$70b BG acquisition
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
London
ROYAL Dutch Shell is to axe 6,500 jobs this year and step up spending cuts to deal with an extended period of lower oil prices which contributed to a 37 per cent drop in the oil and gas group's second-quarter profits.
The Anglo-Dutch company also said that it was planning more asset disposals as it pushes ahead with its proposed US$70 billion acquisition of BG Group, taking total asset sales between 2014 and 2018 to US$50 billion.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
