SHELL & SAUDI AGREEMENT

SHELL - Royal Dutch Shell plc ("Shell") announces the signing of binding definitive agreements between SOPC Holdings East LLC (a U.S. downstream subsidiary of Shell) and Saudi Refining Inc. ("SRI") (a wholly owned subsidiary of Saudi Arabian Oil Company ("Saudi Aramco")) on the separation of assets, liabilities and businesses of Motiva Enterprises LLC ("Motiva"), a 50/50 refining and marketing joint venture.
A balancing payment of $2.2 billion has been agreed between the parties, subject to adjustments including for working capital. This value will be satisfied by a combination of SRI assuming more than its 50% share of Motiva's net debt on completion and a cash payment for the balance. As at 31 December 2016, Motiva's total net debt was $3.2 billion, of which Shell will assume $0.1 billion, resulting in a deduction to the cash portion of the balancing payment of $1.5 billion. As a result of the transaction no material effect is expected on gearing reported on the Shell balance sheet.
Subject to regulatory approval, the transaction is expected to close in the second quarter of 2017.
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Earlier:
SHELL:
SHELL INVESTS IN BRAZIL $10 BLN
SAUDI:
SAUDI'S RENEWABLE INVESTMENT: $50 BLN
SAUDI CUTS OIL PRODUCTION: 486 TBD
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February, 15, 12:50:05 |
OIL PRICE: ABOVE $64 YET |
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February, 15, 12:45:00 |
ЦЕНА URALS: $ 61,70304 |
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February, 15, 12:40:00 |
ВЗАИМОДЕЙСТВИЕ РОССИИ И ТУРЦИИ |
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February, 15, 12:35:00 |
ПРОЕКТЫ ИРАНА И РОССИИ |
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February, 15, 12:30:00 |
ИНВЕСТИЦИИ В РУССКУЮ ЭНЕРГИЮ |
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February, 15, 12:25:00 |
НОВЫЕ РУССКИЕ САНКЦИИ |
Chronicle:

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