Jillian Ambrose: 22 JANUARY 2017 • 8:00PM
Shell’s plans to sell off UK oil assets are expected to move ahead within weeks ahead of an M&A boom for the North Sea.
City sources have said that private-equity backed investment funds are expected to close in on asset sales from supermajor Shell as well as French energy giant Engie amid rising investor confidence in the oil market recovery.
In the wake of the oil price crash early last year industry experts predicted that cash strapped oil companies would streamline their portfolios by selling off assets to bargain hungry funds, but deals have been slow to emerge due to market volatility.