Channel News Asia: Shell believes current high oil prices unsustainable in long run
“Mr van der Veer says Shell is also on track to build a new multi-billion dollar chemical cracker in Singapore. Shell has over US$6 billion worth of oil refining and petrochemical plants in Singapore. Its first oil refinery here is also the group’s largest in the world.”
Wednesday 14 September 2005
By Derek Cher
Oil giant Royal Dutch Shell says the current high oil prices will not be sustainable in the long run.
Its chief executive Jeroen van der Veer says the oil industry is already assessing future projects at lower oil prices.
He is in Singapore to attend Shell’s board meeting, the first time such a meeting is held outside of Europe.
Mr van der Veer says Shell is also on track to build a new multi-billion dollar chemical cracker in Singapore.
Shell has over US$6 billion worth of oil refining and petrochemical plants in Singapore. read more
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