Shell Says Investment in Brazil Subsalt to Remain Robust

Reuters

RIO DE JANEIRO Feb 15 (Reuters) – Royal Dutch Shell , Europe's largest oil company, believes that investment in Brazil's subsalt offshore areas will remain robust, Chief Executive Ben van Beurden said in Rio de Janeiro on Monday.

Van Beurden said that subsalt areas should be able to break even at oil prices expected this year. The global oil industry must invest $1.5 trillion a year to maintain output, he added.

(Reporting by Jeb Blount and Marta Nogueira; Writing by Caroline Stauffer; Editing by David Goodman)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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