Shell plans to slash $9bn from spending in wake of coronavirus
by Jillian Ambrose from on (#513Y6)
Anglo-Dutch oil giant to cut operating costs by $4bn and capital spend by up to $20bn
Royal Dutch Shell plans to slash $9bn (7.2bn) from its spending plans to weather the collapse in oil market prices in the wake of the coronavirus outbreak.
The oil giant set out plans to reduce its operating costs by between $3bn and $4bn this year while cutting its planned capital expenditure by $5bn to $20bn for the year.
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