LNG Deal Ushers in Tighter Shell Spending Regime

That was up from guidance of $40 billion given in the second quarter as a result of the timings of some other acquisitions and divestments.

Shell has pledged a four-year net investment spend of $130 billion for 2012 to 2015, based on a $100 oil price scenario.

Including $30 billion spent in 2012, if 2013 spending now comes in on track, the company will have eaten through $75 billion in the first two years - leaving only $55 billion to spend in 2014 and 2015.

Henry flagged in October that 2013 would be "a clear peak year" for net investments, with divestments stepping up "significantly" in 2014 and 2015.

Since van Beurden began working alongside outgoing boss Peter Voser at the beginning of the fourth quarter, the company has cancelled plans to build a gas-to-liquids (GTL) plant in the United States.

Industry sources have said its Arrow coal bed methane LNG export project in Queensland is another likely casualty of a tighter spending regime.

And bankers are speculating that Shell's 23.1 percent stake in Australian group Woodside Petroleum - worth over $6 billion at current prices - will be among the divestments that Henry flagged.