Royal Dutch Shell puts revamped shale arm at heart of future growth

Having turned round its North American shale business Royal Dutch Shell is putting so-called unconventional energy at the heart of its long-term growth plans and believes lessons from the revamp can be applied across the company.

Greg Guidry, head of the Anglo-Dutch group's unconventionals business, told Reuters a drive to slash costs and streamline decision-making had put his division largely on a par with leading rivals in terms of productivity and efficiency. The rest of Shell could also reap the benefits.

As recently as late last year Shell chief executive Ben van Beurden was considering jettisoning the unconventionals business.

This was over concerns that it would drag down group profitability after the group’s $54 billion (€48bn) acquisition of BG Group in February. – (Reuters)