Guardian: Shell has announced plans to slash its exploration and development spending from $46bn (27.8bn) to $37bn this year and has ditched plans to drill in the Alaskan Arctic this summer.
The cutbacks were unveiled by new chief executive, Ben van Beurden, who said they were part of a range of initiatives to make up for what he described as Shell's "loss of momentum".
Van Beurden, who took over from Peter Voser at the turn of the year confirmed that fourth-quarter profits on a current cost of supply...