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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Royal Dutch Shell    RDSA   GB00B03MLX29

ROYAL DUTCH SHELL (RDSA)
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Royal Dutch Shell : Shell scraps $900m Thai gas sale

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10/05/2017 | 07:11am CET

ROYAL Dutch Shell has cancelled a $900m (£679m) deal to sell its Thai gas field stakes to Kuwait's state oil company after the deal took too long to complete.

The oil major announced the deal to sell its 22 per cent stake in the Bongkot natural gas field and adjoining offshore acreage to Kuwait Foreign Petroleum Exploration Company (KUFPEC) in January as part of its divestment drive following the acquisition of rival BG Group for $70bn.

The deal was set to complete in the first quarter of 2017.

"Although Shell and the Thai government have worked together closely and collaboratively on the matter, the different interpretations of the treatment of share sale transactions were not resolved within Shell and KUFPEC's agreed timeframe. Therefore, both parties jointly decided to terminate the transaction," a Shell spokesperson said.

Shell's two Thai subsidiaries will continue to support operations and development at Bongkot with joint venture partners PTT Exploration & Production and Total.

Shell Integrated Gas Thailand also plans to participate in the upcoming licensing round for the extension of the Bongkot concession.

(c) 2017 City A.M., source Newspaper

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Financials ($)
Sales 2018 327 B
EBIT 2018 30 461 M
Net income 2018 19 227 M
Debt 2018 56 187 M
Yield 2018 5,78%
P/E ratio 2018 13,80
P/E ratio 2019 12,62
EV / Sales 2018 1,00x
EV / Sales 2019 0,94x
Capitalization 269 B
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 35,2 $
Spread / Average Target 9,1%
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Managers
NameTitle
Ben van Beurden Chief Executive Officer & Executive Director
Charles O. Holliday Chairman
Jessica Uhl Chief Financial Officer & Director
Harry Brekelmans Director-Technology & Projects
Gerardus Johannes Wijers Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL DUTCH SHELL-7.54%266 481
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STATOIL-0.51%74 303
ENI-2.14%61 544