Aug. 20 (Bloomberg) -- Total SA, Europes third-largest oil producer, Royal Dutch Shell Plc and UGI Corp. units received complaints from Frances antitrust agency as part of an investigation into the propane and butane industry.
August 20th, 2009:
Total, Shell Get French Complaints in Butane Probe
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Arrow Energy Finalizes Sale Of 12% Of Tipton West To Shell
THE WALL STREET JOURNAL
AUGUST 18, 2009, 9:43 P.M. ET
MELBOURNE (Dow Jones)–Arrow Energy Ltd. (AOE.AU) said Wednesday that the company has completed the sale of a 12% stake in the Tipton West Joint Venture to a unit of Royal Dutch Shell PLC (RDSA), subject to approvals.
Shell paid Brisbane-based Arrow A$49.5 million, half of the purchase price of A$99 million, to obtain a further 12% of the joint venture, with the balance payable after third party and regulatory approval, the company said in a statement.
Shell also will reimburse Arrow for 30% of any future contingent payments, or up to A$21 million, that the company makes to Beach Petroleum Ltd. (BPT.AU) under the terms of the Arrow/Beach Tipton West sale agreement, Arrow said.
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