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Shell withdraws from Zimbabwe

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Shell withdraws from Zimbabwe

By Ed Crooks

Published: July 11 2008 03:00 | Last updated: July 11 2008 03:00

Royal Dutch Shell has become the latest British company to pull out of Zimbabwe, selling its 50 per cent stake in a fuel joint venture with BP to Engen Petroleum, a South African company 80 per cent owned by Petronas, the national oil company of Malaysia.

Shell said the move was consistent with its strategy of making its downstream business more profitable and that it was focusing on “markets where it can deliver maximum value”.

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