Royal Dutch Shell has slashed its capex for the remainder of this year and into 2016, as it readies to take over BG Group amid continued low prices for oil.
The combined company plans to spend $33bn next year, $2bn lower than earlier forecast. Shell has also cut its spending forecast for this year by $1bn to $29bn.
Shell’s shareholders are scheduled to vote on the deal on January 27 and BG’s the next day.