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New Shell CEO: reducing US investment by 20 pct

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AMSTERDAM (AP) — Shell's Chief Executive Officer Ben van Beurden says the company will cut capital spending in the U.S. by 20 percent in 2014 after setbacks in its shale gas operations and in Alaska. Speaking on a conference call with reporters, Van Beurden said Thursday that Shell plans to exit its investments in the Eagle Ford shale formations in Southern Texas, where the company took a $2.1...

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