Author Topic: Fall out from the energy crisis?  (Read 977 times)

Offline Ellipses

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Fall out from the energy crisis?
« on: March 28, 2016, 08:06:12 AM »
Shell is reportedly exploring a sale of North Sea oil assets. The oil major, which has completed its $35bn (£25bn) merger with BG, has begun sounding out buyers for operations.

Shell’s boss, Ben van Beurden, has already pledged to divest $30bn (£21.5bn) of assets globally and has described the North Sea as “old and mature”.

The Sunday Times reported that there have been early talks with Neptune Oil & Gas, which was set up by Sam Laidlaw, the former boss of Centrica. About 2,500 of Shell’s 7,500 employees work in the North Sea.

As an aside, it went largely unreported here that the UK this week took delivery of the first of many huge consignments of shale LPG from the US.   It was previously anticipated that, with supplies of North Sea Gas rapidly dwindling, we would rely upon Russia and purchase our gas from there.

Looks like that wont be necessary now. 

Who could have predicted that  ;)