'Ambitious' growth plans from Shell - graduate jobs

Graduates looking for engineering jobs will be heartened by the news that oil giant Royal Dutch Shell has set out "ambitious" production targets.

The company is due to embark on a new round of development and growth to keep up with a surge in demand from emerging markets.

Over the next four years, the company plans to invest 100 billion US dollars (£62.4 billion) on new projects.

This includes new projects in Canada and Qatar this year.

Shell aims to produce an equivalent rate of 3.7 million barrels of oil per day for 2014, which is a rise of 12% on 2010 levels.

The company has said this is among the highest growth rates in the sector.

Chief executive Peter Voser said in the company's annual strategy update: "We have made good progress in 2010. Our profitability is improving and we are on track for our growth targets. There is more to come from Shell."

The company has 20 new projects under construction, which will add more than 800,000 barrels of oil equivalent per day, putting it on course to meet its target of 3.5 million barrels per day for 2012.

It plans to make final investment decisions on some 10 new projects over the next two years in Australia, Malaysia, Canada and the Gulf of Mexico.