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MarketScreener 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 CEST

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 389 B
EBIT 2018 38 346 M
Net income 2018 24 484 M
Debt 2018 56 652 M
Yield 2018 5,57%
P/E ratio 2018 11,90
P/E ratio 2019 10,17
EV / Sales 2018 0,86x
EV / Sales 2019 0,81x
Capitalization 277 B
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 37,7 $
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
Bernardus Cornelis Adriana Margriet van Beurden Chief Executive Officer & Executive Director
Charles Otis Holliday Chairman
Jessica Rodgers Uhl Chief Financial Officer & Director
Harry Brekelmans Director-Technology & Projects
Gerard Johannes Kleisterlee Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL DUTCH SHELL2.02%276 621
PETROCHINA COMPANY10.75%227 720
TOTAL18.88%167 982
EQUINOR22.83%88 107
NK ROSNEFT' PAO--.--%69 586
ENI18.39%68 893