Shell agrees to buy BG Group for $70 billion
In the press release, Shell stated that it aims to increase its growth in liquefied gas and deep water exploration via the acquisition. In addition, the acquisition reportedly will add around 25% to Shell’s oil and gas reserves and 20% to production and provide Shell with enhanced positions in competitive new oil and gas projects, particularly in the Australia LNG and Brazil deep water segments. The oil major also targets to increase its competitiveness in gas markets against rivals like ExxonMobil.
In addition, Shell also reported that they are planning to increase asset sales to $30 billion in the period of 2016-2018.
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