LONDON, Feb 24 (Reuters) - Oil major Royal Dutch Shell is closing a business dedicated to so-calledunconventional resources, a term used by the industry todescribe shale reserves, and said on Wednesday the unit'sdirector and U.S. head Marvin Odum would leave.
Shell on Feb. 4 reported its lowest annual income in morethan a decade and pledged further cost saving measures to dealwith weak oil prices.
The Anglo-Dutch company said its shale resources unit wouldbecome part of the upstream business led by Andy Brown. ItsAthabasca Oil Sands Project and Scotford Upgrader in Canadawould fall under the downstream unit, headed by John Abbott.
Both Brown and Abbott are based in Europe, where Shell hasheadquarters and major offices in London and the Hague.
Odum, who joined Shell in 1982, will leave the company atthe end of March and will be replaced as U.S. country chairmanand president by Bruce Culpepper, executive vice president forhuman resources. (Reporting by Karolin Schaps; Editing by David Holmes)
