Thursday 30 July 2015

Shell to sack 6500;Cut spending to cope with lower oil prices

Royal Dutch Shell says it will axe 6,500 jobs this year and step up spending cuts, to deal with an extended period of lower oil prices. Besides, the company announced on Thursday in London the sale of a 33 per cent stake in the Showa Shell refinery in Japan to Idemitsu, for about $1.4 billion. The Anglo-Dutch company also said it was planning more asset disposals..

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