Shell sees medium term production growth

LONDON - Royal Dutch Shell Plc said it expected to grow production in the medium term and said it would pay out $10 billion this year in dividends.

By (Reuters)

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Published: Tue 17 Mar 2009, 3:04 PM

Last updated: Sun 5 Apr 2015, 10:41 PM

Shell said in a statement on Tuesday that it could generate 2-3 percent annual production growth early in the next decade.

Previously the company said it had a long-term growth potential of 2-3 percent. A spokesman declined to say if the earlier target had been dropped.

The Anglo-Dutch oil major reported better reserves replacement performance than some analysts expected.

Shell matched almost all its production with new finds in 2008, with a reserves replacement rate of 98 percent when measured according to Securities and Exchange Commission rules, the spokesman said.

After selling a number of refineries and fuel retail operations in Europe and Africa in recent years, Shell said it could sell further refining and fuel marketing activities in Germany and New Zealand.

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