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North Sea has a big future, says Shell after BG takeover

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Screen Shot 2016-01-20 at 08.29.05Robin Pagnamenta James Hider Energy Editor: February 16, 2016

Royal Dutch Shell reiterated its confidence in the North Sea oil industry yesterday as it sealed a £35 billion acquisition of its rival BG Group and promised a rapid boost in output from Brazil.

Writing exclusively for The Times on the first day after completing the merger, Ben van Beurden, Shell’s chief executive, promised to retain many of BG’s existing assets in the North Sea, where high costs and plunging oil prices have fuelled deep unease about job losses and future investment…

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