Shell to spend billions on expansion

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© Lord Shnozzington.

DESPITE the doom and gloom being spread through the stock markets and the economies of oil producing nations due to the rapid fall in the wholesale price of oil, Royal Dutch Shell is about to invest $49 billion (€45 billion) to take over oil and gas exploration company BG Group.

83.08 is the percentage of shareholders who voted in favour of the board proposal to take over the BG Group.

This expenditure, which is greater than the annual GDP of 107 countries and equal to that of Slovenia, shows both the wealth of this company as well as its commitment to the production and sale of fossil fuels and natural gas.

Unlike rival BP, Shell has not had to expend large amounts of money to clean up environmental spills.

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