Printer Friendly

SHELL OIL COMPANY ANNOUNCES $800 MILLION INCREASE FOR 1994 CAPITAL AND EXPLORATORY EXPENDITURES

 HOUSTON, Nov. 19 /PRNewswire/ -- Shell Oil Company announced today that capital and exploratory expenditures for 1994 are projected to be $3.1 billion, up $800 million from anticipated 1993 expenditures.
 Approximately $1.5 billion is allocated for Exploration and Production activities, an increase of $300 million from expected 1993 levels.
 Oil Products expenditures are expected to grow to $1.1 billion in 1994 from an estimated $700 million in 1993.
 Chemical Products expenditures for 1994 are expected to be $400 million, about the same as 1993.
 "Shell Oil's 1994 capital spending program reflects our continued efforts to upgrade our asset base in order to be competitive in the business environment we foresee," said Philip J. Carroll, Shell Oil Company president and chief executive officer.
 "The increase in Exploration and Production spending is attributable to additional development activity in the Gulf of Mexico. The Oil Products projected increase is associated with the upgrading of our Martinez, Calif., refinery and increased spending for environmental projects."
 -0- 11/19/93
 /CONTACT: Kitty Borah or Dee Dee Taylor, 713-241-4544, both of Shell Oil Company/


CO: Shell Oil Company ST: Texas IN: OIL SU:

SH -- NY011 -- 6411 11/19/93 09:15 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 19, 1993
Words:198
Previous Article:THERMO CARDIOSYSTEMS ANNOUNCES BEGINNING OF EXERCISE PERIOD FOR COMMON STOCK REDEMPTION RIGHTS
Next Article:FORD MODELS TO BE SEEN AND CAST USING NEW GRAPHIC DATABASE SYSTEM BY INSTANT EXPOSURE INC.
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters