Archive Shell confirms sale of 16 assets worth $500m

Shell confirms sale of 16 assets worth $500m

-

- Advertisment -
Royal Dutch Shell, weekend, confirmed plans to sell over 16 assets each worth more than $500 million.
Shell Though the report had no mention of what location or country which its assets is up for sale, but explained that the move is part of its vast $30 billion three-year asset sales programme.
According to Reuters, its head of upstream Andy Brown, who made this disclosure at the Oil and Money conference in London   said, “There are 16 assets currently in the market that are above $500 million in value.”
It will be recalled that the Anglo-Dutch Company, had earlier this year, launched the programme to reduce its debt following the acquisition of BG Group.
Uncertainty over future oil price has led to a sharp slowdown in deal making in the sector in recent years.
The company which had announced that it planned to end operations in some countries however affirmed its commitment to remain in Nigeria. Shell Chief Executive Officer, Ben van Beurden said that the company would not leave the country, and reaffirmed the continuity of liquefied natural gas and deep water operations there.
 The company’s facilities have come under attack on several occasions this year, which posses a lot of deficit to its financials, as the cost of repairs on some of the damaged facilities is greatly on the high side.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

COVID-19: Nigeria to Launch 38 oxygen Plants Across the Country

President Muhammadu Buhari has given the go ahead for the launching of at least 36 oxygen plants across the...

Minister Talks Tough On Violence Against Women, Girls

By IJEOMA UKAZU | ...Says Nigeria Must Mainstream Gender Following the high rate of Violence Against Women And Girls, VAWG in...

Christian Aid Appoints First Director Based Outside the UK

Christian Aid has appointed its first director based outside the UK. Nigeria-based Ojobo Ode Atuluku will join the charity at the...

Lauretta Onochie’s Affiliation with APC Makes Her Unfit as INEC National Commissioner – KDI

Kimpact Development Initiative (KDI) has expressed concern on the nomination of Ms. Lauretta Onochie, a political appointee and Senior...

Schools must be Open, Accessible and Safe from Attacks, say African children

African children speak out about how the COVID-19 pandemic tipped an existing education safety crisis to breaking point While the...

Day of the African Child: Nigeria Children Advocates For A Better Continent

By IJEOMA UKAZU |  "There are children out there who are vulnerable to violence, exposed to danger, forced into labour,...

Must read

Minister Talks Tough On Violence Against Women, Girls

By IJEOMA UKAZU | ...Says Nigeria Must Mainstream Gender Following the...
- Advertisement -

You might also likeRELATED
Recommended to you

%d bloggers like this: