By Daniel J. Graeber published 21 April 2015 by UPI
BG Group prioritizes Australia, Brazil
READING, England, April 21 (UPI) — British energy company BG Group said Tuesday it would change how it discloses financial data to reflect the importance of Brazilian and Australian assets.
BG Group said, starting May 8, it would unveil a number of disclosure mechanisms aimed at improving transparency and simplification of financial statements.
“[The changes will] also reflect the growing importance of Brazil and Australia on the group’s performance,” the company said in a statement.
BG Group last week came up empty-handed while drilling for new reserves in the Norwegian waters of the North Sea. Earlier this month, the company confirmed it was the target of a $70 billion takeover bid from Royal Dutch Shell.
The deal is among the largest acquisitions since the Exxon Mobil merger in 1999 and comes as most energy companies streamline capital expenses in a weak oil market. Shell said the deal would help both companies grow their priorities.
“The combination will add some 25 percent to Shell’s proved oil and gas reserves and 20 percent to production, each on a 2014 basis, and provide Shell with enhanced positions in competitive new oil and gas projects, particularly in Australia liquefied natural gas and Brazil deep water,” the company said.
*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.
