Shell, Exxon may appeal over planned Groningen gas production cut

May 24, 2017 11:24 AM ETShell plc (SHEL)XOM, SHELBy: Carl Surran, SA News Editor
  • The joint venture between Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM) that operates the Groningen gas field says it is considering an appeal against a Dutch government plan to cut production at the massive field by 10%.
  • The government confirms it plans to go ahead with a tightening of output at Groningen from Oct. 1, and says interested parties have until July 7 to announce an appeal.
  • The 50-50 Shell-XOM JV says the government's measure is "disproportionate" and ignores previously agreed safety norms, which do not call for such a large reduction.
  • With the new cut, production would be capped at 21.6B cm/year from 53.9B cm in 2013.

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