Shell says 2010 global investments down to $28 bln
Published on Wed, Nov 11, 2009 at 14:50 | Source : Reuters
Updated at Wed, Nov 11, 2009 at 14:58
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Shell says 2010 global investments down to $28 bln
Royal Dutch Shell CEO Peter Voser said on Wednesday, investments in global projects in 2010 will fall to USD 28 billion from USD 30-USD 32 billion this year.
Royal Dutch Shell CEO Peter Voser said on Wednesday, investments in global projects in 2010 will fall to USD 28 billion from USD 30-USD 32 billion this year.
This was due to lower prices in the market, he told Reuters on the sidelines of a signing ceremony for the joint venture agreement between Qatar Petroleum International (QPI) and Shell Eastern Petroleum Pte Ltd.
"The investments will be USD 28 billion in 2010. Prices in the market have come down", Voser said.
He added that demand for oil is slowly improving.
"The slow demand movement is coming back (up) in 2010. It will take some time for demand to come back up," he said.
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