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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: http://www.thisismoney.co.uk/money/markets/article-3511757/Shell-plans-North-Sea-sell-falling-crude-price-makes-sites-profitable.html#ixzz4490OoIm0

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