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2017-08-17 15:05:00

SHELL SELLS SADAF FOR $820 MLN

SHELL SELLS SADAF FOR $820 MLN

SHELL - Shell has completed the sale of its 50% share in SADAF, the petrochemicals joint venture, located in Al Jubail, in the Kingdom of Saudi Arabia to SABIC for $820 million. This sale was announced on 22 January 2017. Completion follows anti-trust filings in the relevant countries and regulatory approval from the Kingdom of Saudi Arabia.

This acquisition will enable SABIC to optimise operations at SADAF and further invest in the facilities, integrating them with SABIC's other affiliates. This step will allow Shell to focus its downstream activities and make selective investments to support the growth of its global chemicals business. Completion of this deal shows the clear momentum behind Shell's global, value-driven $30bn divestment programme.

This deal does not impact Shell's other interests in the Kingdom of Saudi Arabia.

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Earlier:  

SHELL INCOME $1.55 BLN

SHELL INCOME $1.55 BLN SHELL INCOME $1.55 BLN Royal Dutch Shell Chief Executive Officer Ben van Beurden commented: “Shell’s strong results this quarter show that we are reshaping the company following the integration of BG. Cash generation has been r ...
2017-07-28  

GAZPROM - SHELL LNG

ГАЗПРОМ - ШЕЛЛ СПГ GAZPROM - SHELL LNG As oil prices sag despite OPEC’s renewed efforts to shore up world crude markets, Wall Street banks have more bad news for the producer group: the outlook for next year isn’t great either. Alexey Miller, Chairma ...
2017-06-05  

SHELL DIVESTS CANADA $8.2 BLN

SHELL DIVESTS CANADA $8.2 BLN SHELL DIVESTS CANADA $8.2 BLN Under the first agreement, Shellhas completed the sale to a subsidiary of Canadian Natural Resources Limited (“Canadian Natural”) its entire 60% interest in AOSP, its 100% interest in the P ...
2017-06-01  

SHELL INCOME $3.5 BLN

SHELL INCOME $3.5 BLN SHELL INCOME $3.5 BLN Compared with the first quarter 2016, CCS earnings attributable to shareholders excluding identified items increased by $2.2 billion, mainly driven by higher contributions from Upstream and Chemicals, partl ...
2017-05-06  

NORD STREAM - 2 INVESTMENT

... e Nord Stream 2 pipeline project with ENGIE, OMV, Shell, Uniper and Wintershall. Nord Stream 2 AG signed financing agreements for the Nord Stream 2 pipeline project with ENGIE, OMV, Shell, Uniper and Wintershall. ...
2017-04-25  

SHELL DOUBLE LNG

SHELL DOUBLE LNG SHELL DOUBLE LNG A government panel said in a report in April 2015 that Hazira LNG will look to expand the capacity of its LNG terminal in the western state of Gujarat by 50% to 7.5 MMtpy in the fiscal year to March 2017. A governmen ...
2017-04-03  

SHELL DIVESTS CANADA $7.25 BLN

SHELL DIVESTS CANADA $7.25 BLN SHELL DIVESTS CANADA $7.25 BLN Shell will sell to a subsidiary of Canadian Natural Resources Limited (“Canadian Natural”) its entire 60 percent interest in AOSP, its 100 percent interest in the Peace River Complex in-si ...
2017-03-10

 

 

Tags: SHELL, SADAF, SAUDI, SABIC

Chronicle:

SHELL SELLS SADAF FOR $820 MLN
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

SHELL SELLS SADAF FOR $820 MLN
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

SHELL SELLS SADAF FOR $820 MLN
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

SHELL SELLS SADAF FOR $820 MLN
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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