Shell a global integrated exploration and production company has released its financial and operational year report for the fourth quarter 2020.
Integrated gas and new energies
Q4 2020 Portfolio developments
During the quarter, QGC Common Facilities Company Pty Ltd, a
wholly-owned subsidiary of Shell, announced that it has agreed to the sale of a
26.25% interest in the Queensland Curtis LNG Common Facilities to Global
Infrastructure Partners Australia for US$2.5 billion. The transaction is
subject to regulatory approval in Australia and customary conditions and is
expected to complete in the first half of 2021.
In January 2021, Shell completed the sale of its 30% interest in Oil Mining Lease 17 in the Eastern Niger Delta, and associated infrastructure, to TNOG Oil and Gas Limited, a related company of Heirs Holdings Limited and Transnational Corporation of Nigeria Plc, for a consideration of $533 million. A total of $453 million was paid by completion with the balance to be paid over an agreed period.
“2020 was an extraordinary year. We have taken tough but decisive actions and demonstrated highly resilient operational delivery while caring for our people, customers and communities. We are coming out of 2020 with a stronger balance sheet, ready to accelerate our strategy and make the future of energy. We are committed to our progressive dividend policy and expect to grow our US dollar dividend per share by around 4% as of the first quarter 202,” Royal Dutch Shell Chief Executive Officer, Ben van Beurden, said
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