Royal Dutch Shell raises US$7.2bn from Canadian oil sands disposal
Oil giant Royal Dutch Shell PLC (LON:RDSA) is raising US$7.2bn through the sale of its almost all its oil sands interests in Canada, with the firm to just retain a 10% stake in the Athabasca Oil Sands Project (AOSP).
A subsidiary of Canadian Natural Resources Limited (TOR:CHQ) will acquire Shell’s current 60% interest in AOSP, its 100% interest in the Peace River Complex in-situ assets, including Carmon Creek, and a number of undeveloped oil sands leases in Alberta, Canada.
Shell will receive approximately US$8.5bn (C$11.1bn) from Canadian Natural, comprised of US$5.4bn in cash plus around 98 mln Canadian Natural shares currently valued at US$3.1bn.
Separately, under a second agreement, Shell and Canadian Natural will jointly acquire and own equally Marathon Oil Canada Corporation, which holds a 20% interest in AOSP, from an affiliate of Marathon Oil Corporation (NYSE:MPC) for $1.25bn each in cash.
The combination of these transactions will result in a net consideration to the Anglo-Dutch firm of US$7.25bn.
Portfoilo reshaping …
Shell will remain operator of AOSP’s Scotford refinery and Quest carbon capture and storage project, with Canadian Natural signing a long-term supply agreement with the refinery.
The transactions are expected to close mid-2017, subject to regulatory approvals.
Shell’s chief executive officer Ben van Beurden said: “This announcement is a significant step in re-shaping Shell’s portfolio in line with our long-term strategy.”
He added: “The proceeds will accelerate free cash flow and reduce gearing and make a meaningful contribution to Shell’s US$30bn divestment programme.”
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/174517/royal-dutch-shell-raises-us72bn-from-canadian-oil-sands-disposal-174517.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes:
Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules. Today Be 100% Satisfied Or Receive A Full Money Back Guarantee Order Yours Today By Following This Link.
| Online: | |
| Visits: | 1,608,314,636 |
| Stories: | 8,164,201 |
Whistler Blowers, Insiders
