Cheap oil crimping your spending plans? Sitting on a bunch of valuable upstream oil assets that could be monetized? How about a mammoth IPO? No, not Saudi Arabia. I’m talking about Royal Dutch Shell.
Shell is Europe’s third-biggest company by market value. But after the $54 billion acquisition of BG Group, its net debt is by far the largest: an eye-watering $70 billion.
Shell’s net debt is the largest of any company in western Europe
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The Anglo-Dutch company says debt is likely “to go up before it goes down” and its reduction is “priority number one”. With credit-rating agencies on its case, Shell has to deliver on a pledge to divest $30 billion of non-core assets within three years.