Sector News

Shell selling 16 assets worth more than $500 million

October 20, 2016
News

Royal Dutch Shell is currently offering 16 assets each worth more than $500 million (406.2 million pounds) for sale as part of its vast $30 billion three-year asset sales programme, the oil and gas company’s head of upstream Andy Brown said on Wednesday.

The Anglo-Dutch company launched the programme to reduce its debt following the acquisition of BG Group earlier this year. Uncertainty over the future oil price has led to a sharp slowdown in deal making in the sector in recent years.

“There are 16 assets currently in the market that are above $500 million in value,” Brown told the Oil and Money conference in London.

By Ron Bousso

Source: Reuters

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