Shell plans investments of $12 billion/year for 2 years

Royal Dutch/Shell Group has set a 3-year strategy to maintain profits at 15%/year, invest $12 billion/year for 2 years, cut costs by $500 million/year, and sell $7 billion of under-performing assets if necessary.The company said its exploration and production division would provide the main thrust of its activities with substantial developments in Nigeria and China. Royal Dutch/Shell also said it is considering making acquisitions during the industry downturn.Phillip Watts, chairman of Shell´s committee of managing directors, told London financial analysts last month that the group is well positioned to deliver good returns even in a continuing recession because of its strong balanc...

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