Tuesday 3 November 2015

Shell sells two gas assets in France and China

Royal Dutch Shell announced it has sold two assets from its portfolio.

The energy giant has sold Butagaz Liquefied Petroleum Gas (LPG) in France for €464 million (£329.4m) to UK company DCC Energy.

Shell stated its other businesses in the country such as aviation, commercial fleet and lubricants are not affected by this transaction.

It has also sold a 75% stake in Tongyi Lubricants in China to Huo's Group and The Carlyle Group.

In a statement the firm said: "Both divestments are consistent with Shell’s strategy to concentrate its downstream footprint on assets and markets where it can be most competitive and to divest its LPG businesses worldwide."