GPS News  
OIL AND GAS
Shell wins Chinese clearance for BG takeover
by Staff Writers
London (AFP) Dec 14, 2015


Energy major Shell's vast takeover of British rival BG Group has won approval from the Chinese government, it said Monday.

Shell's �55-billion (US$84-billion, 79 billion-euros) acquisition of BG Group had already been cleared by authorities in Australia and Brazil, as well as the European Commission.

"Royal Dutch Shell plc today announced that its recommended combination with BG Group plc has received unconditional merger clearance from the Chinese Ministry of Commerce (MOFCOM)," the group said in a statement.

"Following previously announced approvals in Brazil, the EU and Australia, MOFCOM clearance marks the final pre-conditional approval required for the combination."

The deal is aimed at helping Shell boost its flagging output thanks to BG's strong position in liquefied natural gas (LNG), a cleaner alternative to coal and nuclear energy.

"I am delighted we now have all the pre-conditional approvals needed to move to the next important phase," added Shell chief executive Ben van Beurden.

"This is a strategic deal that will make Shell a more profitable and resilient company in a world where oil and gas prices could remain lower for some time.

Shell, which will now seek approval from both sets of shareholders, remains on track to complete the deal in early 2016.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Scientists develop diesel that emits far less CO2
Leuven, Belgium (SPX) Dec 14, 2015
Researchers from KU Leuven and Utrecht University have discovered a new approach to the production of fuels. Their new method can be used to produce much cleaner diesel. It can quickly be scaled up for industrial use. In 5 to 10 years, we may see the first cars driven by this new clean diesel. The production of fuel involves the use of catalysts. These substances trigger the chemical react ... read more


OIL AND GAS
QUT scientists unlock secrets of Aussie 'resurrection' grass

Global food system faces multiple threats from climate change

First fossil peaches discovered in southwest China

Herbicide drift affects adjacent fields, delays flowering

OIL AND GAS
Atomically flat tunnel transistor overcomes fundamental power challenge

Spin current on topological insulator detected at room temps

Quantum computer made of standard semiconductor materials

A quantum spin on molecular computers

OIL AND GAS
UK government blasted over London airport expansion delay

Germany receives first two H145M helicopters

Northrop Grumman delivers center fuselage for first Japanese F-35

Britain delays decision on London airport expansion

OIL AND GAS
Cars driving the rebalancing of Chinese economy: IEA

Volkswagen says pollution cheating dates back to 2005

Volkswagen to start recalls in France in February

Mystery electric car startup unveils $1 bn US factory

OIL AND GAS
China approves merger of two top shipping firms: Xinhua

China cuts yuan to over four-year low vs dollar

Chinese steel dumping threatens sector recovery in Europe, US

China imports and exports fall again in November: govt

OIL AND GAS
US forest products in the global economy

N. Korea 'declares war' on deforestation at Paris climate talks

At UN talks, African countries aim to restore 100 mn hectares of forest

Eyes in the sky track health of Earth's African 'lung'

OIL AND GAS
Ames and Hera Systems Execute Licensing Agreement

Is That a Forest? That Depends on How You Define It

Timelapse from space reveals glacier in motion

Earth's magnetic field is not about to flip

OIL AND GAS
Nanotube letters spell progress

Shaking the nanomaterials out

Heat radiates 10,000 times faster at the nanoscale

Measuring nanoscale features with fractions of light









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.