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    Guardian: Shell's Profit Plunge Prompts North Sea Jobs and Investment Warning

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Summary

The North Sea crisis and oil price slump continue to have an effect on Shell as it warns that it may cut more jobs in Aberdeen

by: Erica Mills

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Guardian: Shell's Profit Plunge Prompts North Sea Jobs and Investment Warning

Shell warned on Thursday that further jobs and investment are at risk in the North Sea as it slashed annual global spending by a further $2bn (£1.3bn) and reported a 56% slump in first-quarter profits.

The Anglo-Dutch oil group also said there would be no slowdown in its controversial plans to start drilling in the Alaskan Arctic this summer where it hopes to discover large-scale oil reserves alongside evidence of gas found in the past.

Read the full article HERE.

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