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OIL GIANTS SHELL AND BP DUMP ASSETS

Times Online

OIL GIANTS DUMP ASSETS

The Sunday Times

Business Digest

December 13, 2009

OIL groups Royal Dutch Shell and BP have put up $1 billion (£615m) of European assets for sale.

Shell has appointed Lazard, the investment bank, to sell its Swedish arm, which includes a refinery in Gothenburg, a marketing arm, and its network of more than 400 petrol stations. It hopes to pocket about $750m from the exit.

BP, meanwhile, has put its French petrol stations up for sale. The $200m business employs more than 2,000 people.

TIMES ARTICLE

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