Shell cuts 2015 capex again to face oil downturn

July 30, 2015 6:11 AM

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Shell cuts 2015 capex again to face oil downturn

LONDON Royal Dutch Shell (RDSa.L) said on Thursday it will further reduce 2015 capital investment to $30 billion, down by 20 percent from a year ago as it expects the downturn in oil prices to "last for several years."

Shell earlier this year cut its capital expenditure, or capex, to $33 billion from around $35 billion in 2014.

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