Shell says reviewing New Zealand assets


Energy giant Royal Dutch Shell said on Thursday it was reviewing its business interests in New Zealand as the company seeks to streamline its global portfolio amid a slump in energy prices.

The Anglo Dutch firm is focusing on large growth opportunities, with deep water and integrated gas as priorities, after announcing plans to raise $50 billion from asset sales between 2014 and 2018 while cutting jobs and costs.

"The Shell business in New Zealand is a great, but a small part of the global Shell business and hence the decision to undertake a strategic review at this time," Rob Jager, Country Chairman of Shell New Zealand, said in a statement.

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