Shell has announced it is cutting costs and capital expenditure as the Covid-19 pandemic sparks oil price collapse.
In a recent statement, the energy company announced it would cut down on operating costs by up to $4 billion (£3.44bn) over the next 12 months and reduce annual spending from $25 (£21.5bn) to $20 billion (£17bn).
In a bid to abate fears and limit the spread of novel coronavirus amongst larger number of construction workers, Shell has also suspended construction activities on an ethane cracker site in Pennsylvania.
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