Shell promises stronger returns and cost cuts

|By:, SA News Editor

On the oil major's capital markets day, Shell (RDS.A, RDS.B) declared it was still on track to sell assets worth $30B by 2018 and pledged to save up to $4.5B thanks to synergies from its takeover of BG.

Shell further anticipates the potential for $20-25B of organic free cash flow - based on a $60 oil price environment - and 10% ROACE around the end of the decade.

It also said its priorities were to reduce debt, pay dividends and achieve a "balance between capital investment and share buy backs."

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