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Shell CEO Voser says more redundancies next year…


Shell says $80 oil will halt debt spiral

Voser says more redundancies next year… (unspecified number)

By Ed Crooks in London

Published: November 24 2009 20:46

Royal Dutch Shell has signalled that the steep rise in its debts is coming to end, with its chief executive saying the group would not need to borrow any more money if oil remains at about $80 per barrel.

Shell has been cutting costs aggressively under Mr Voser: shedding 5,000 jobs this year, forcing staff to reapply for 15,000 posts, driving down suppliers’ prices , such as for drilling contractors, and shifting some procurement to China. Mr Voser said there would be an unspecified number of further redundancies next year…

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