Shell has exited from exploring in Alaska for the foreseeable future and canceled the Carmon Creek heavy oil project.
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Royal Dutch Shell said fourth-quarter earnings tumbled 44 percent as the collapse in oil prices took its toll on the company.The results came days after Shell sealed a 47 billion pound ($68.5 billion) takeover of BG Group, which will increase the company's proven reserves of oil and natural gas by 25 percent. The BG deal comes as Shell and other oil companies are slashing jobs and postponing investments to adjust the bottom line to the dramatic circumstances.In a trading statement unveiled just before shareholders voted on the BG merger, Shell said last month that streamlining and integration from the deal would include the loss of 10,000 staff and contractor positions across both companies in 2015-2016 .
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