By Daniel J. Graeber: Feb. 2, 2017
(UPI) — Royal Dutch Shell continues to focus on an aggressive divestment strategy after cutting $15 billion from its books last year, its CEO said Thursday.
“We are gaining momentum on divestments, with some $15 billion completed in 2016, announced, or in progress, and we are on track to complete our overall $30 billion divestment program as planned,” CEO Ben van Beurden said in a statement.
The Dutch supermajor, trimmed down after a merger last year with British energy company BG Group, reported an 8 percent decline in profit last year for one of its weakest performances in more than a decade.