Shell to cut its domestic shale spending and staff by 30 percent

Following "underwhelming results over the past several years," Netherlands-based Royal Dutch Shell announced recently that it intends to "cut spending and staff at its dry gas operations" in the United States by about 30 percent, The Pittsburgh Post-Gazette reports. Shell controls 900,000 acres in the Marcellus shale play with approximately 300 employees in Pennsylvania. The announcement creates uncertainty over the future of Shell's planned ethane cracker, which the company had previously announced would be built in Beaver County, Pennsylvania (See our Nov 9, 2013, blog post – "Declining earnings and a maturing shale gas refining industry might drive Shell to cancel its planned ethane “cracker” plant in Pennsylvania"). For more, read the full story.

National, Pennsylvania