Austrian oil company given permission by watchdog to takeover Shell’s NZ business
New Zealand’s competition watchdog has given approval for an Austrian oil and gas company to buy Royal Dutch Shell’s New Zealand assets.
The acquisition will result in OMV taking ownership of Shell’s entire New Zealand portfolio, including its stake in the Maui and Pohokura gas field joint ventures with Todd Energy and the associated production, pipeline and tank assets.
The sale, worth $794 million, marks the end of Shell’s association in New Zealand after more than 100 years.