DEUTSCHE SHELL OUTLINES PLANS FOR 1994 SPENDING
Deutsche Shell AG plans to invest about 5 billion deutschemarks ($2.92 billion) in its German petroleum, petrochemicals, and natural gas segments during the next 5 years. Peter Duncan, Deutsche Shell chairman, said his company also plans to reduce fixed costs by 150 million deutschemarks ($88 million)/year. That amounts to a 10-15% cut. "Reorganization of Deutsche Shell will shortly result in a strengthening of earning power," Duncan said. "The first signs of this are evident."