Source: International Business Times
British energy giant Shell announces further cost-cutting plans AFP British energy giant Shell on Tuesday announced plans to slash costs by billions of dollars and increase shareholder returns, as it focuses on its liquified natural gas (LNG) business. Shell aims to reduce costs by between $5 billion to $7 billion by 2028, compared with 2022 levels, the company said in a statement ahead of its investor event in New York. That is an increase from its previous target of $2 billion to $3 billion in cost reductions by the end of 2025, which had involved hundreds of job cuts in its oil and gas division.
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