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Shell plans North Sea sell-off as falling crude price makes many of its sites less profitable

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By CITY & FINANCE REPORTER FOR THE DAILY MAIL: PUBLISHED: 27 March 2016

Shell has hired advisers to sell some of its North Sea oil operations as the falling price of crude makes sites less profitable.

Bank of America Merrill Lynch, Lazard and Morgan Stanley have held talks with a number of suitors, including Neptune Oil and Gas, the investment firm set up by former Centrica boss Sam Laidlaw.

The oil industry has been scaling back investments in the North Sea because of the tumbling price of crude. Shell has said it would make disposals worth £21billion. read more

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Shell may offload its North Sea operations

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Ben Chu: 27 March 2016

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. BG was created in 1997 when British Gas divested Centrica. read more

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Shell considers North Sea sell-off in bid to raise $30bn

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Written by Rita Brown – Sunday 27/03/2016

Shell today confirmed it was considering a North Sea sell-off in a bid to balance its financial books after completing its $35billion mega takeover of BG.

The operator is currently looking to raise $30billion from asset sales from its global portfolio.

A company spokesperson said its North Sea assets could make-up part of the re-shuffle.

The spokesman said: “A review of all assets, including those in the North Sea, is under way as part of our commitment to the $30bn asset sale.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell weighs North Sea assets for potential sales

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Pilita Clark in London: 27 March 2016

Royal Dutch Shell has confirmed it is reviewing the case for selling some of its North Sea assets in the wake of its £35bn takeover of rival oil and gas producer, BG Group.

Shell has nearly 2,500 employees in the North Sea, where it has operated more than 33 offshore installations.

FULL FT ARTICLE

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Shell prepares North Sea sale after BG tie-up

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Danny Fortson: Published: Sunday 27 March 2016

SHELL has quietly begun sounding out buyers for parts of its sprawling North Sea operations amid a slump that has seen the industry shed tens of thousands of jobs.

Europe’s biggest oil company strengthened its presence in the basin just last month when it completed its blockbuster £35bn takeover of rival BG.

Chief executive Ben van Beurden is under pressure to justify the price and has pledged to sell up to $30bn (£21bn) of assets. Sources close to the situation said Shell has no plans to exit completely but could dramatically shrink its footprint.

It is understood that Bank of America Merrill Lynch, which has been hired to lead the process, has held early talks with potential buyers including Sam Laidlaw, the former Centrica boss who last year launched the $5bn Neptune Oil & Gas fund to buy energy assets. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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