Shell selling 16 upstream assets worth more than $500 million



19 October 2016, London — Royal Dutch Shell is currently offering 16 assets worth more than $500 million for sale as part of its vast $30 billion three-year asset sales program, the oil and gas company’s head of upstream Andy Brown said on Wednesday.

The Anglo-Dutch company launched the program 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.

*Ron Bousso; Editing – Mark Potter – Reuters

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