BusinessQuiet 9d · day 9
XRG to Buy Shell's Australian Gas Stake for $1.45 Billion
Abu Dhabi's state oil producer expands globally with acquisition of Shell's stakes in Australian natural gas project.
What to know
- XRG, Abu Dhabi's state oil producer investment arm, is buying Shell's Australian natural gas project stakes for $1.45 billion.
- The deal reflects Shell's strategy to shed mature assets while XRG pursues global expansion.
- This is the latest in a series of acquisitions by XRG seeking to grow its international energy portfolio.
How it unfolded 1 development · click the chart to see its coverage articlesposts
Nov 4Nov 5Nov 6Nov 7Nov 8Nov 9yesterdaynow · 9:50 PM ET
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“The energy investment arm of Abu Dhabi's state oil producer agreed to pay $1.45 billion for Shell Plc's stakes in an Australian natural gas project, the latest in a series of deals as it seeks to expand around the world.”
— Bloomberg Markets, News outlet · source -
2 outlets first by Bloomberg Markets, 8d ago · also FT · read ↗
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