Shell says reviewing New Zealand assets


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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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