Shell to merge upstream, LNG units in restructure

Shell

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Energy giant Shell said it was combining its oil and gas production and liquefied natural gas division as part of a restructure.

Oil & Gas Producers

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The new division will be led by current upstream director Zoe Yujnovich, Shell said in a statement on Monday.

New chief executive Wael Sawan, who started on January 1 after heading Shell's integrated gas division, said he was also reducing the size of the firm’s executive committee to seven members from nine.

Under the internal restructure, renewables operations will be combined with Shell's oil refining and marketing operations led by current downstream director Huibert Vigeveno, the company said.

The changes do not affect Shell’s financial reporting segments, which remain integrated gas, upstream, marketing, chemicals and products, renewables and energy solutions, and corporate.

Reporting by Frank Prenesti for Sharecast.com