08-04-2016 09:41 via uk.news.yahoo.com

Shell under pressure to reduce spending

By Ron Bousso LONDON (Reuters) - Royal Dutch Shell is under pressure from shareholders to cut annual spending below $30 billion (21.3 billion pounds) after buying BG Group to ensure it can maintain its dividend given the slow oil price recovery. Shell and other large oil companies slashed budgets, scrapped huge projects and cut tens of thousands of jobs last year in the face of a slump in oil prices from a June 2014 peak of nearly $116 a barrel to below $40. Shell reduced spending by $8.4 billio
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