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    South-Africa-Oil-and-Gas-Exploration

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    Upstream-Exploration

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    Offshore-Drilling

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    ExxonMobil doubles Permian footprint after finalizing Pioneer acquisition

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Shell completes the sale of its shareholding in Showa Shell to Idemitsu

Yuvraj_ong by Yuvraj_ong
December 19, 2016
in Market Reports, News, Upstream
0

Shell has completed the sale of a 31.2% shareholding in Showa Shell Sekiyu K.K. to Idemitsu Kosan Co. Ltd. for a total amount of JPY159 billion (approximately US$1.4 billion). Completion follows anti-trust approval from the Japan Fair Trade Commission.

John Abbott, Shell Downstream Director, said: “Shell has enjoyed a long and valuable partnership with Showa Shell since the year 1900. I would like to thank CEO Tsuyoshi Kameoka, the management and the board of directors for their leadership and support, as well as those leaders who have preceded them over the last century. I wish the company success and look forward to seeing the commercial linkages and a new relationship between our two companies over the coming years.”

Â

The sale supports Shell’s strategic commitment to focus downstream activity on areas where it can be most competitive.Shell’s upstream, integrated gas, chemicals and trading businesses are not impacted by the sale.  Japan remains an important LNG market for Shell.

Enquiries

Investor Relations

International: +31 70 377 4540

North America: +1 832 337 2034

Â

Media

Shell International Media Relations:
+44 207 934 5550

Shell US Media Relations:
+1 713 241 4544

Shell Asia Media Relations:
+86 106 505 4501 ext.2685

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