Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
British oil major Shell joined other companies in the sector in lowering capital expenditure for the current year by about $5 billion and suspended the next tranche of its share buyback plan to weather a hit from the recent oil price crash.
The company said it would reduce 2020 cash capital expenditure to $20 billion or below from a planned level of around $25 billion, adding that the initiatives would contribute $8 billion-$9 billion to free cash flow on a pre-tax basis.
