LONDON, Oct 27 (Reuters) – Shell (SHEL.L) is wanting at switching elements of its substances portfolio as the slump in sector’s income margins is predicted to be prolonged-lasting, Main Executive Officer Ben van Beurden stated on Thursday.
“Substances is a cyclical organization … And as we can see, the lows can be fairly significant and extensive-long lasting. The previous time we observed some thing carefully like this was in 2008-2009, and this looks to be certainly as bad,” van Beurden told analysts.
“We are searching at changing the makeup of the portfolio,” he additional.
Reporting by Ron Bousso editing by David Evans
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