Advertisement
UK markets closed

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     

  • AIM

    755.28
    +2.16 (+0.29%)
     

  • GBP/EUR

    1.1679
    +0.0022 (+0.19%)
     

  • GBP/USD

    1.2494
    -0.0017 (-0.13%)
     

  • Bitcoin GBP

    50,723.49
    -717.09 (-1.39%)
     

  • CMC Crypto 200

    1,328.79
    -67.74 (-4.85%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     

  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,161.01
    +243.73 (+1.36%)
     

  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

Shell offloads its New Zealand assets to Austria's OMV

Reuters - UK Focus

(Adds details of deal, quotes)

March 15 (Reuters) - Royal Dutch Shell Plc (LSE: 0LN9.L - news) is selling its upstream assets in New Zealand to Austria's OMV AG (IOB: 0MKH.IL - news) for $578 million, the companies said on Thursday.

"Today's announcement is another step towards reshaping and simplifying our company," Shell (LSE: RDSB.L - news) 's Integrated Gas & New Energies Director Maarten Wetselaar said.

Thursday's agreement includes the sale of Māui, Pohokura and Tank Farms. After deal closure, Shell Taranaki and Shell New Zealand employees will become a part of OMV New Zealand, Shell said.

"This acquisition is an important step to develop Australasia into a core region in line with our new strategy," OMV CEO Rainer Seele said.

ADVERTISEMENT

Shell has sold or agreed to sell over $25 billion of assets as part of a three-year programme to dispose of $30 billion by the end of 2018, following the acquisition of BG Group (EUREX: 1007667.EX - news) in 2016.

Shell sold its stake in Kapuni gas field, New Zealand's second-largest, for an undisclosed price in 2017. (Reporting by Sangameswaran S in Bengaluru; Editing by Andrew Roche)