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Shell Boss Confident Oil Prices Will Rise Ahead of BG Takeover Bid

Royal Dutch Shell boss Ben van Beurden has expressed his confidence that oil prices will increase in the near future, as their proposed takeover of BG Group gains momentum.

As oil prices dropped to an almost 12-year low, van Beurden explained that prices would need return to $60 per barrel for their $51bn takeover to become financially viable.

"The oil prices we are seeing today are not sustainable and are going to settle at higher levels, and higher, in my mind, over the next few decades than the low $60s that we require to make this a good deal." He told the Sunday Times.

Since the original agreement valued BG Group at £13.50 a share, their stock has dropped to less than £9.80 a share.

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