SHELL SELLS NEW ZEALAND
Shell has put its upstream holdings in New Zealand, which account for a significant chunk of the nation's oil and gas production, up for sale.
"These assets are profitable, well maintained and are an important part of New Zealand's energy mix," Shell New Zealand Chairman Rob Jager said in a statement Thursday.
"The Shell business in New Zealand is great, but a small part of the global Shell business and hence the decision to undertake a strategic review at this time."
Shell is streamlining its global portfolio given the current low oil price environment.
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