Royal Dutch Shell Shell CEO says higher oil prices delaying new projects

AMSTERDAM (Thomson Financial) – Royal Dutch Shell chief executive officer
Jeroen van der Veer said high oil prices are slowing down new projects because
governments are taking longer to negotiate their slice of revenues.

“It is evident that active government interest is delaying projects,” van
der Veer said in an interview published in Shell’s Dutch in-house magazine this
month, adding that “government negotiations for their share of the revenues are
lengthier than in the past.”



He refuted the idea that higher oil prices would actually accelerate
decision-making, saying “in reality the opposite is true”.

And ultimately this will impact on the speed at which new projects can be
taken into production, van der Veer warned, although he did not specify which
Shell projects might be affected.

Thomson Financial