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Shell says BG merger will work with oil at mid-$60s

Shell says BG merger will work with oil at mid-sLONDON: Royal Dutch Shell on Tuesday announced plans to increase benefits from its proposed $ 70 billion acquisition of BG Group, which the company said would work with oil prices in the mid-$ 60s a barrel.

The Anglo-Dutch group said it will reduce costs by $ 11 billion in 2015 as it cuts deeper to tackle a prolonged period of lower oil prices, currently trading just below $ 50.

Shell hopes to complete the deal early next year.

Copyright Reuters, 2015

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