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Deals

Shell CEO says cool on takeovers

Shell's Chief Executive Officer Jeroen van der Veer delivers a speech during the European Business Summit in Brussels February 21, 2008. REUTERS/Francois Lenoir

LONDON (Reuters) - Royal Dutch Shell Plc RDSa.L sees better value in developing its own base of oil and gas fields than buying rivals, Chief Executive Jeroen van der Veer said on Thursday.

“We have a very large resource base ... We have more than enough investment opportunities so we focus on that,” van der Veer told Reuters Television in an interview filmed at the Nogaro race track in the south of France.

He declined to comment on whether Shell might bid for either of the oil sands or natural gas businesses that Canada's EnCana ECA.TO plans to split itself into.

Reporting by Karen Noack, Writing by Tom Bergin; Editing by Greg Mahlich

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