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Offshore drilling is at a slowdown

Ben van Beurden, Chief Executive Officer. Royal Dutch Shell Plc

Ben van Beurden, Chief Executive Officer. Royal Dutch Shell Plc

Extracts from an article by Jeff Nevile published Friday 11 April 2014 by oilvoice.com

Royal Dutch Shell Plc was one of the first to announce a plunge in profit this year as they announce a 48% drop. As Shell postponed their offshore drilling in Alaska, Chief Executive Officer Ben Van Beurden promised to slash capital spending to increase their return and cash flow performance. The question is, what is the duration of this spending cut going to be and how much damage is it causing the big players?

FULL ARTICLE

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