Shell Retains Lpg Business
Shell has announced that, after a review of
its global lpg marketing and distribution, it has decided to
retain its lpg businesses, including that in the UK, in its downstream
portfolio. Shell had previously announced that it was reviewing
its options following an unsolicited offer.
Some parts of Shell’s lpg business have been sold, however,
including those in Portugal, Italy, Brazil, Paraguay and parts
of the Caribbean.
Ron Blakely, executive vice president finance
Shell downstream, said: “We made clear all along in this
process that our lpg business is robust and meets our portfolio
criteria. Having
fully tested the market, we have concluded that there is better
value for Shell shareholders in retaining these profitable businesses.
"Lpg generates a competitive return on
capital employed, and will continue to be run as part of our
downstream portfolio in our
markets of choice. It will be very much business as usual going
forward.”
John Tolchard, managing director of Shell
Gas (LPG) UK, said: "I
welcome this announcement and feel we can now continue with our
strategy of growing our UK business and giving the shareholder
the best return on investment."
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