Jeremy Cresswell: Chrysaor, Shell deal shows there’s life in the North Sea yet
A terrific deal!
BG Group. Shell
Shell’s BG offer gets nod from European Commission
The European Commission has given unconditional merger clearance for Shell's $70billion offer for BG Group.
Shell buying BG to ease Petrobras stress in key Brazilian arena
Royal Dutch Shell Plc’s acquisition of BG Group Plc not only increases access to deep-water fields in Brazil, but provides greater heft in dealings with Petroleo Brasileiro SA, the local partner mired in a graft probe. With Petrobras engulfed in Brazil’s largest ever corruption scandal, BG and other partners are struggling to communicate with the state-controlled producer’s management to address delays to development plans. For BG and Galp Energia SGPS SA, which are relying on future Brazilian output to bolster cash flow, this uncertainty is a bigger problem than for Shell, which has a larger and more diversified portfolio. “Shell has more patience and financial strength,” Juan Ramon Fernandez Arribas, an independent analyst based in Madrid, said in an e-mail. “It can wait more to develop its projects and is a more solid operator than BG. That’s a big advantage in the discussions with Petrobras.”