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Shell to streamline results presentation

REUTERS

Mon Sep 28, 2009 6:53am EDT

LONDON, Sept 28 (Reuters) – Oil major Royal Dutch Shell Plc (RDSa.L) said on Monday it planned to change the way it presents its accounts to reduce administration costs and simplify presentation. 

In future, Shell will present its financial results in three segments: Upstream, Downstream and Corporate & Minority Interest, the company said. 

Until the second quarter of 2009 the results consisted of six business segments.

The Anglo-Dutch company will provide additional disclosure on the performance of its core upstream oil and gas production unit on a geographical basis.

The changes are part of a restructuring under Peter Voser who took over as Chief Executive on July 1. The new CEO plans to cut costs to counter a halving in oil prices in the past year.

(Editing by Mike Nesbit)

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