Royal Dutch Shell said it has
completed divestments worth around $22.3 billion over the period 2016-2017 out
of its three-year (2016-2018) $30 billion divestment programme.
According to Shell’s 2017
Sustainability Report released yesterday, some of the company’s interests sold
include the Australian energy company Woodside Petroleum, majority of its oil
sands interests in Canada, some UK North Sea assets, its onshore upstream
operations in Gabon, and currently its upstream business in Ireland.
The Report read: “Shell made
significant progress towards the completion of our three-year $30 billion
divestment programme, which is an important part of our strategy to reshape
into a world-class investment and to strengthen our financial framework. We
made good progress on our 2016-2018 $30 billion divestment programme by the end
of 2017, with deals worth $22.3 billion completed.
“We sold non-operated
shareholdings in assets as well as entire businesses. In each transaction,
Shell carried out extensive due diligence to ensure that the buyer had the
capabilities to uphold, or even improve, delivery with respect to safety,
security, the environment and responsibilities to neighbouring communities.”
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