Shell eyes new Brazilian assets ahead of BG deal
Commodities | Fri Aug 7, 2015 * Shell earmarks up to $5 bln for further acquisitions
* Oil majors to focus on Brazil‘s oil, LNG after BG deal
* Shell to sell $30 bln in assets by 2018
By Ron Bousso
LONDON, Aug 7 (Reuters) – Royal Dutch Shell is considering investing billions in Brazil, set to become a focal point after the planned acquisition of BG Group, even as it prepares to sell huge chunks of its business to pay for the $70 bln deal.
Despite a broad drive to cut spending in the face of persistently low oil prices, Chief Executive Ben Van Beurden remains steadfast in his plans to buy BG, which will transform Shell into the world’s biggest liquefied natural gas (LNG) supplier.
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