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Shell says BG merger will work with oil at mid-$60s
November 3, 2015 / 7:22 AM / 2 years ago

Shell says BG merger will work with oil at mid-$60s

LONDON, Nov 3 (Reuters) - Royal Dutch Shell on Tuesday announced plans to increase benefits from its proposed $70 billion acquisition of BG Group, which the company said would work with oil prices in the mid-$60s a barrel.

The Anglo-Dutch group said it will reduce costs by $11 billion in 2015 as it cuts deeper to tackle a prolonged period of lower oil prices, currently trading just below $50.

Shell hopes to complete the deal early next year.

Reporting by Ron Bousso; Editing by David Goodman

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