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Shell to sell India assets

Raising money through divestments is crucial for Shell after the BG purchase wiped out more than $10 billion of its cash, prompting a credit-rating cut from Fitch Ratings Ltd

Shell to sell India assets
Bloomberg
Last Updated : Mar 04 2016 | 12:45 AM IST
Royal Dutch Shell Plc is lining up assets for a $30 billion divestment program that may extend from the U.S. and Trinidad to India following its record takeover of BG Group Plc, according to people with knowledge of the matter.

Assets linked to Shell's interests in Trinidad & Tobago and stakes in oil and gas fields in India may be on the block, two of the people said, asking not to be identified because the plans are confidential. Pipelines in the U.S. are also high on the list, they said, adding that disposal plans aren't final and will depend on demand.

Raising money through divestments is crucial for Shell after the BG purchase wiped out more than $10 billion of its cash, prompting a credit-rating cut from Fitch Ratings Ltd. as debt-to-equity levels rose. Oil's collapse over the past 20 months has eroded balance sheets across the industry and the outlook for a sustained market rout may hinder Shell's efforts to find buyers for the assets.

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First Published: Mar 04 2016 | 12:01 AM IST

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