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Top Shell lawyer says lower extraction costs helping oil industry cope with downturn

By in Houston, Texas, USA: 10 MAY 2017

A decline in extraction costs is helping the oil and gas industry weather turbulence, or what is often dubbed in the market as an ongoing ‘era of lower for longer oil prices,’ according to oil and gas giant Royal Dutch Shell’s top lawyer.

Speaking at global law firm Baker & McKenzie’s Annual Oil & Gas Institute, in Houston, US, on Wednesday (10 May), David Brinley, general counsel at Shell, said: “The oil and gas industry is probably at its most turbulent point in its history. Furthermore, the confluence of political, economic and social change is nothing like I have seen in my 27 years at Shell. However, it is fair to say the industry’s commitment to efficiencies is just getting interesting now.”

Brinley also said the company’s technology hub in Bangalore, India has never been more integral to its business than ever before.

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