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‘Unprofitable Shale Investments’ Force Shell To Cut Americas Spending

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March 13, 2014

Royal Dutch Shell Plc, Europe’s largest oil producer, plans to reduce spending in the Americas by 20% to focus on more profitable projects.

“Upstream Americas profitability has been impacted by losses in resources plays such as shales,” Shell said March 13 in a statement before CEO Ben van Beurden hosts his first strategy day in London. “The company intends to drive hard choices on capital allocation for selective growth, and divestment of non-strategic positions.”

Van Beurden has pledged to reduce spending this year and accelerate refinery and other asset sales ...

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