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Shell commits to deeper cuts

In order to secure further support from investors for the merger with BG Group, Shell will save USD 5 billion more than planned in 2016, reports the Financial Times.

Oil giant Royal Dutch Shell is now promising that USD 5 billion more will be saved than what was planned so far in 2016. This is part of an attempt to secure further support from investors for the merger with BG Group, writes the Financial Times.

Shell calls the acquisition of BG for USD 64 billion including debt, a stepping stone to a more simple and focused business, which will be able to withstand the longer lasting recessions.

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