Shell Postpones $700 Million Gulf of Mexico Investment on Spill
This article is for subscribers only.
Royal Dutch Shell Plc, Europe’s largest oil company, postponed about $700 million of planned investments in the Gulf of Mexico following last year’s spill.
Shell lost $260 million because of disruptions to its operations in the region last year, Chief Financial Officer Simon Henry said today. The drilling ban resulted in 10,000 barrels a day of “high-value production” being lost, he said.