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Royal Dutch/Shell CEO sees quite difficult 2010


Fri Nov 27, 2009 6:08am EST

AMSTERDAM, Nov 27 (Reuters) – Anglo-Dutch oil giant Royal Dutch Shell (RDSa.L) (RDSb.L) expects next year to be difficult in terms of consumer demand though the worst may be past, its chief executive said at an investor conference.

“I think 2010 will still be quite a difficult year,” Peter Voser told a conference of Dutch shareholder group VEB.

“I would say we have most probably seen the bottom and it will go up, but it will go up slowly.”

He also said demand was showing a “gradual” improvement, which was also driven by government stimulus packages as well as the effect of destocking.

“We are looking at a long-term, slow coming back to a normal world,” Voser said.

(Reporting by Harro ten Wolde and Aaron Gray-Block; Editing by Dan Lalor) (([email protected]; Reuters Messaging: [email protected]; +31 20 504 5017))

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