Shell looking to cut 30-40% oil and gas production

UNNAMED sources told Reuters Shell is looking to cut global oil and gas production by 40% to save cash so it can overhaul its business to focus more on renewables, under the banner Project Reshape.

Shell looking to cut 30-40% oil and gas production Shell looking to cut 30-40% oil and gas production Shell looking to cut 30-40% oil and gas production Shell looking to cut 30-40% oil and gas production Shell looking to cut 30-40% oil and gas production

Australia will not be a focus for production: sources

Sources said it will focus oil and gas production in the North Sea, Nigeria and the Gulf of Mexico - failing to mention Australia, where the company holds varied LNG assets.