LONDON, November 3, 2015 /PRNewswire/ —
NOT FOR RELEASE, PRESENTATION, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISIDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
- Competitive underlying performance in low oil prices – planning for prolonged downturn
- Both net investment and dividends have been covered by operating cash flow over the last year to Q3 2015, when oil prices have averaged $60 per barrel
- Delivering our commitments to reduce costs and spending – $11 billion reduction in 2015
- Reorganisation of Shell upstream increases accountability for performance and aligns us to deliver on the strategy
- Further analysis and Shell’s integration planning for the recommended combination with BG has enabled us to identify a $1 billion (40%) increase in pre-tax synergies to $3.5 billion
- BG transaction on track for completion in early 2016, leading to a simpler and more profitable Shell
Royal Dutch Shell plc (Shell) (NYSE: RDS.A)(NYSE: RDS.B) today presents a strategic update to shareholders and investors in London. Speaking at the presentation, Shell’s CEO Ben van Beurden will say:
“Low oil prices are driving significant changes in our industry. I am determined that Shell will be at the forefront of that, and emerge as a more focused and more competitive company as a result.”