Royal Dutch Shell announced this morning that it could be vacating up to 10 countries this year, as it moves to divest up to 10 percent of its oil and gas assets and save around US$4.5 billion. Shell said in a statement that up to 10 percent of its oil and gas production were tagged for disposal, and planned to exit five to ten countries—a plan that would unfold over the course of the next two years. The savings plan represents US$1 billion more than previously discussed. Related: Oil Prices Stimulated By Fed’s Inaction Shell also plans to trim capital expenditure this year by US$1 billion to US$29 billion, while pressure mounts as net debt rises to nearly US$70 billion, according to the Wall Street Journal. The supermajor recently completed its US$92-billion takeover of BG Group to give the company strength in the LNG market. According […]