EnergyWatch

Shell still wielding the ax to trim expenses

Shell CEO Ben van Beurden is making big cost reductions and reducing investments at the oil company and shareholders are positive about the approach.

Photo: Alastair Grant/AP/Polfoto

For a long time, Shell has been under pressure to trim down the company in order to generate solid dividends despite the oil price plunge, and CEO Ben van Beurden (photo) is now delivering on those demands, according to today's third quarter interim report from the British-Dutch oil major.

Shell writes that the underlying operating costs for this year were USD 9 billion (EUR 8.17 billion) less than in 2014 (For Shell and the acquired BG Group). They are expected to decline further as synergies from factors, such as the integration of BG, take effect.

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