Shell to Delay Oil Part of Sakhalin Project by Year

Royal Dutch Shell PLC (RDSB.LN) said Thursday that it will delay the launch of an oil platform and year-round oil output by a year as part of the rescheduling of its Sakhalin II project announced last month.

In mid-July, the Anglo-Dutch oil giant said its Sakhalin II project, off Russia’s far east coast, would suffer $10 billion of overruns and that its gas portion – the largest component – would be delayed by half a year.