Shell to keep up deep-water drill

Royal Dutch Shell sees deep-water oil drilling continuing in the future and as of next year will produce more gas than oil, its chief executive was quoted as saying yesterday. Asked how high the price of oil needed to be for Shell to profit from its investment of $30bn (£18bn) in 2011, Peter Voser said: “If the price of oil is between $50 and $90 a barrel, the investments are worth it.” Following the oil spill in the Gulf of Mexico there have been calls to stop deep-water oil drilling.