By October 19, 2016 Read More →

Shell selling 16 assets worth more than $500 million

shell

Shell is reducing debt following the acquisition of BG Group earlier this year.

Shell looking to unload $30 billion in assets in three-years

LONDON, Oct 19 (Reuters) – Royal Dutch Shell is currently offering 16 assets each worth more than $500 million 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.

(Reporting by Ron Bousso; Editing by Mark Potter)

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