Royal Dutch Shell is ruthlessly targeting its capital expenditures and operating costs in a drive to make its $62 billion acquisition of BG pay off amid persistent low oil and gas prices. The Anglo-Dutch supermajor is also aiming to sell $30 billion of assets over a three-year period to shore up cash flow and pay down debt, including 16 assets worth more than $500 million each (IOD Oct.17'16). "We ... need to capture this concept of lower forever. For too long we were waiting for the cavalry to arrive and for the oil price to go up," Shell's head of upstream operations Andy Brown said Wednesday at the Oil & Money conference in London, co-hosted by Energy Intelligence and the New York Times.
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