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Shell, Exxon to appeal latest Groningen production cap

Jun. 28, 2017 11:10 AM ETShell plc (SHEL) StockXOM, SHELBy: Carl Surran, SA News Editor4 Comments
  • The NAM joint venture between Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM) says it will appeal against the Dutch government's plan to lower a production cap at the Groningen natural gas field by another 10%.
  • The 50-50JV says it has been left in an impossible position by being told it may continue production - vital to supply homes with gas - without guarantees that it is meeting safety standards.
  • The Dutch government has lowered production at Groningen several times over the past three years due to small earthquakes triggered by work there.

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