Shell standing above its peers
Article by Daniel J. Graeber published 13 April 2015 by UPI
Shell standing above its peers
LONDON, April 13 (UPI) — Shell’s grab of energy giant BG Group and a legal victory for frontier work offshore Alaska leaves rivals in the dust, though environmentalist are unimpressed.
The board of directors at Shell and BG group issued a joint statement last week saying they’ve reached an agreement for the Dutch acquisition of its British rival.
A weekend editorial from The Telegraph newspaper in London said the grab is an “audacious” move in a “new wave of oil industry consolidation” that’s greeted a slump in oil prices that’s lasted nearly a year. The deal, valued at around $70 billion, is among the largest acquisitions since the Exxon Mobil merger was completed in 1999.
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