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Share Price: 491.25
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Shell to sell three producing North Sea fields -report

Thu, 13th Feb 2014 23:26

Feb 13 (Reuters) - Royal Dutch Shell is planning tosell three oil and gas producing assets in the North Sea, theGuardian reported on Thursday, a move that supports theAnglo-Dutch oil major's existing plans to step-up divestmentsthis year.

Glen Cayley, vice-president of Shell's upstream business inEurope, said the company had been talking to staff about thepossible disposal of its Anasuria, Nelson and Sean platforms,the paper said on its website. ()

Shell, along with its peers in the industry, has been facingincreasing investor pressure to rein in spending as costs riseand prospects for oil prices wane.

A media report said in January that Shell planned to sell$15 billion worth of assets over the next two years includingsome North Sea fields.

Britain's production from the North Sea has been in declinesince 1999, with output plunging by a third from 2010 to 2012,acting as a drag on the country's economic growth.

Shell, the world's number-three among investor-controlledenergy firms, could not be reached for comment outside ofregular business hours.

Cayley said, the Guardian added, that this move had not beeninfluenced by the upcoming referendum on Scottish independence,which other energy bosses have signalled is further underminingthe North Sea investment climate.

The boss of BP, a big investor in Britain's North Seawaters and the country's second biggest oil company, warned lastweek that Scottish independence could cause his company"uncertainties".

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TOP NEWS: BP shares rise after reports Adnoc had pondered takeover

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UAE's ADNOC said to have recently considered BP takeover

(Sharecast News) - The United Arab Emirates' state-owned oil company recently considered buying BP but the deliberations did not progress beyond preliminary discussions, according to a report.

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Senegal says oil, gas and mine contracts will be reworked if needed

DAKAR, April 11 (Reuters) - Senegal's new Energy and Mines Minister said on Thursday the government would renegotiate oil, gas and mining contracts if necessary once a promised audit is completed.

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Johnson Matthey and BP win deal for US sustainable aviation fuel plant

(Alliance News) - Johnson Matthey PLC and BP PLC on Wednesday said their technology offering has been selected for use in a sustainable aviation fuel plant being built in the US state of Louisiana.

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LONDON BRIEFING: Stocks called up ahead of US inflation data

(Alliance News) - Stocks in London are called to open higher, as investors shake off nerves ahead of a key US inflation reading.

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Slide in defence stocks knocks down Europe's STOXX 600

BP gains on higher quarterly upstream energy output forecast

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FTSE 100 ends down as defence stocks offset commodity gains

Easter food spending lifts UK retail sales in March

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LONDON MARKET CLOSE: Stocks struggle in nervy trade before US data

(Alliance News) - European equities closed lower on Tuesday, with sentiment downbeat ahead of Wednesday's US inflation reading, though impetus could be found in gold, which hit another record high.

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London close: Stocks slip ahead of ECB, US inflation print

(Sharecast News) - London markets closed lower on Tuesday, as investors braced for a key US inflation reading as well as a policy announcement from the European Central Bank later in the week.

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LONDON MARKET MIDDAY: FTSE 100 treads water despite boost from miners

(Alliance News) - Equities in London lacked impetus heading into Tuesday, as investors moved with caution ahead of a US inflation print on Wednesday and the European Central Bank's interest rate decision a day later.

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