Shell to cut spending by US$15b over next 3 years

[LONDON] Oil major Royal Dutch Shell said on Thursday it would lower its capital investment in 2015 and curtail overall spending by a total of US$15 billion over the next 3 years in response to lower oil prices.

The company reported fourth-quarter 2014 earnings on a current cost of supplies basis at US$4.2 billion, compared with US$2.2 billion for same quarter a year earlier, and in line with expectations.

It said it kept its dividend stable for the quarter at US$0.47 per share and would keep it the same in the first quarter of 2015.

REUTERS