“Shell sees no quick end to the slump in oil prices and plans to further slash annual spending, sell off assets and bring the total number of job cuts to 6,500 by the end of 2015.  But the Anglo-Dutch group has vowed to press on with its expensive and controversial exploration programme in Arctic Alaska, saying it was a ‘long-term play’ that could not be influenced by current energy prices.  Capital expenditure will be reduced by a further $3bn (£1.9bn) meaning a fall of 20% overall across 2015 compared to last year while more than $30bn assets are to be disposed of by 2018 once its takeover of BG is complete. The company insisted its planned £47bn merger with rival BG was still a good bet.”

http://www.theguardian.com/business/2015/jul/30/shell-to-cut-6500-jobs-due-to-continuing-oil-price-slump

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