Shell Sounds North Sea Alarm Over Brexit Poll

Britain's biggest oil company will this week sound a renewed warning about the risk that a UK exit from the European Union (EU) could trigger a second Scottish independence referendum.

Sky News understands that Royal Dutch Shell (Xetra: A0ET6Q - news) executives are expected to use a presentation to investors on Tuesday to highlight the company's concerns that an independent Scotland would be unable to support the North Sea's huge decommissioning costs during a period when many platforms are being decommissioned.

Sources close to Shell (LSE: RDSB.L - news) said the issue was likely to be highlighted if raised by shareholders at a capital markets day that will also provide the City with fresh details of the company's strategy in the wake of its £35bn takeover of BG Group (EUREX: 1007667.EX - news) .

Shell's capital markets day will come as Remain campaigners press major UK employers to warn against voting to leave the EU in the days leading up to the referendum, which takes place in just over two weeks' time.

In a speech in 2014, Ben van Beurden, Shell's chief executive, acknowledged that the EU faced challenges relating to its economic competitiveness.

"We believe those challenges are best tackled - to the benefit of all - with the UK's voice loudly expressed and loudly heard inside the EU.

"It (Other OTC: ITGL - news) 's for similar reasons that we'd like to see Scotland remain part of the United Kingdom."

Mr van Beurden was among the executives who signed a letter co-ordinated by Downing Street earlier in the EU referendum campaign supporting the 'Remain' side of the debate.

Shell, like other oil majors, has seen renewed glimmers of hope from the recent gradual recovery in oil prices following their protracted slump.

The Sunday Times reported at the weekend that the company may reveal even deeper job cuts than those announced shortly after the merger with BG completed.

City sources said that Shell was also likely to update on the sustainability of its dividend, as well as its exploration plans amid pressure from some investors to slash spending.

Shell declined to comment.