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Hemscott: Shell CEO says higher oil prices delaying new projects

AMSTERDAM (Thomson Financial) – Royal Dutch Shell chief executive officer Jeroen van der Veer said it is taking longer to gain approval for new oil extraction projects due to higher oil prices, newspaper Het Financieele Dagblad reported.

‘And over a period of time that will have an influence on the tempo in which new projects start production,’ Van der Veer told the company magazine Shell Venster, the FD reported.

Van der Veer said the ‘active interest that governments show’ also means that it is taking longer before new projects can be carried out, the FD reported. Aaron Gray-Block; [email protected] agb/jlw

http://www.hemscott.com/news/latest-news/item.do?newsId=57266946862802

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