This same question will be ask by our future children to come...
Shell petroleum development company, SPDC, says it will axe 6,500 workers this year and begin a process of cutting spendings, to deal with an extended period of lower oil prices in the global market.
Shell wants to sack 6,500 staff and direct contract workers from a total of nearly 100,000 employees.
“We have to be resilient in a world where oil prices remain low for some time, whilst keeping an eye on recovery,” said Ben van Beurden, Shell's Chief Executive Officer.
The Anglo-Dutch company also said it was planning more asset disposals, bringing total asset sales between 2014 and 2018 to $50 billion.
Lower oil prices have contributed to a 37 percent drop in the oil and gas group’s second-quarter profits. And the group said it would reduce 2015 capital investment for the second time this year to $30 billion by 20 percent from a year ago.
Big oil companies have cut 2015 spending by 10 to 15 percent from 2014, to cope with fall in oil prices over the past year to below $55 a barrel from over a $100.
Shell said its operating costs were expected to fall by $4 billion, or around 10 percent, in 2015 as part of a broad efficiency drive to boost its balance sheet.
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