By DAVID SHAND: PUBLISHED: 00:03, Wed, Jun 8, 2016
The company set out its plans to create a “world class investment case” for shareholders following its £35billion takeover of fellow FTSE 100 oil and gas giant BG Group, which will include more asset sales and cost-cutting.
In its presentation to investors, Shell said it would squeeze an extra $1billion (£690million) in savings from the BG deal from an earlier $3.5billion forecast.
It aims to sell 10 per cent of its oil and gas production by exiting operations in up to 10 countries.
Some $30billion of assets will be offloaded by 2018, with capital investment limited to $25-30billion a year to 2020.
Spending this year is expected to be $29billion, 35 per cent down on what Shell and BG were spending in 2014.
Shell chief executive Ben van Beurden said he expects demand for oil and gas to be “robust for decades to come” in a long-term transition to lower carbon fuels.
He added: “As well as low prices today, we are seeing higher levels of price volatility, due to geopolitical change, the speed of information flows and the pace of innovation.
“By capping our capital spending to 2020, investing in compelling projects, driving down costs and selling non-core positions, we can reshape Shell into a more focused and more resilient company, with better returns and growing free cash flow.
“The BG deal is an opportunity to accelerate the reshaping of Shell. Integration is gathering pace, and today we expect to deliver more synergies, and at a faster rate.”
Shell’s growth priorities over the medium term include deepwater projects in Brazil and the Gulf of Mexico, as well as its chemicals operations in the US and China.
But it will slow new investment in its integrated gas business, which it said had reached “critical mass” following the BG acquisition.
Bernstein analyst Oswald Clint said: “The message is clear.
“This is a company set to pay a sustainable dividend and will only invest in high return deepwater and chemicals going forward with a capital spending cap.”
Shell shares rose 52½p to 1764½p.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
