Related Articles
Forward article link
Share PDF with colleagues

Shell sells 30% stake in Showa Shell Sekiyu

The move is part of a strategy to concentrate Shell's downstream activity to a smaller number of assets

Shell is to sell to Idemitsu a 33.24% stake in Showa Shell Sekiyu for yen 169bn ($1.4 bn), leaving it with 1.80%. The Anglo-Dutch major has also sold back to Huo’s Group and The Carlyle Group its 75% stake in Tongyi Lubricants, in China. It said the sales were consistent with its strategy to concentrate its downstream footprint on a smaller number of assets and markets where it can be most competitive. Shell said: “Idemitsu is an established and successful company and is well positioned to take up Shell’s shareholding.” Shell, which has been in Japan for more than 100 years, said the country remained an important LNG market. Shell will continue to license its brand to Showa Shell for use in

Also in this section
Saudi Arabia pushes ahead with IPO
22 March 2017
The state firm is making the right noises about its privatisation, but the clock is ticking and market fundamentals could still shift
An M&A lifeline in the North Sea
15 March 2017
Assets that cut tax bills could be a blessing for UKCS operators looking for a bargain
Depth, breadth and data
15 March 2017
Fresh from the merger with Baker Hughes, GE Oil & Gas boss tells Petroleum Economist about his firm's plans for digital analysis, cost-cutting and recovery