By Andy Tully: 2 FEB 2016
Royal Dutch Shell is selling even more assets as it tries to cope with the persistent fall in the price of oil and its controversially expensive merger with BG group, approved last week by the shareholders of both companies.
In a statement Monday in London, the Anglo-Dutch oil giant said it plans to sell its 51 percent stake in the Shell Refining Co. (SRC) to Malaysian Hengyuan International Limited for $66.3 million. This is in addition to Shell’s sale of its marketing operations in Denmark and Norway, its liquid petroleum gas business in France and one-third of its shares in its Japanese arm, Showa Shell Sekiyu KK.
Shell also has recently sold off refining operations in Australia and Italy, as well as some of its retail outlets in Britain.