* Sets output target to be 12 pct higher in 2014 than 2010
* Sees 2011-2014 net capital investment of $100 billion
* Targets $1 bln in downstream cost reductions in 2011-12
* Shares down 1.5 pct, sector index down 3.4 pct
Tue Mar 15, 2011 10:18am GMTBy Greg Roumeliotis and Alex Lawler
AMSTERDAM/LONDON, March 15 (Reuters) – Royal Dutch Shell (RDSa.L: Quote) aims to produce 12 percent more oil by 2014 than it did last year, one of the highest growth rates in the industry, and will cut more costs at its refining business, it said on Tuesday.
The Anglo-Dutch group said it will be producing 3.7 million barrels of oil equivalent (boe) per day in 2014 after spending over $100 billion in net capital investment in 2011-14, despite the current volatility in oil prices.