Pipeline pressure regulators released

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Shell sells LPG business in Hong Kong and Macau

first_imgImage: ShellThe Hague-based LNG giant Shell has entered into a deal to sell its liquefied petroleum gas (LPG) business in Hong Kong and Macau to DCC Energy.The conditional sale is worth about of $150.3 million.“This sale supports Shell’s strategic commitment to focus downstream activities on areas where we can be most competitive,” John Abbott, Shell Downstream Director, said in a statement.“This is one of the last of our wholly owned LPG businesses and this sale is another step in Shell’s ongoing portfolio optimisation strategy to deliver $30 billion of divestments between 2016 and 2018,” Abbott added.As part of the sale, Shell will be entering into a long-term brand license agreement with DCC Energy that will ensure the Shell brand remains visible across the LPG business in Hong Kong and Macau.All local Shell LPG employees affected will be given an option to transition to DCC Energy, according to the company.The sale is expected to conclude in the first quarter of the next year, subject to the receipt of regulatory approvals.last_img read more

FINALLY!! Real Madrid Find Player To Replace Cristiano Ronaldo (Photo)

first_imgReal Madrid have finally found Cristiano Ronaldo’s replacement within the club.New manager, Julen Lopetegui has decided to promote Spanish forward, Marco Asensio as Ronaldo’s replacement in the team.Before now, a host of names have been linked with Real Madrid, including Neymar, Kylian Mbappe and Eden Hazard.Hazard openly admitted he would like a move to Real but Chelsea have refused to sell, placing a £177.9million price tag on him, to scare buyers away.Spanish newspaper, Marca reports that for this reason, Lopetegui has assessed his squad over pre-season and decided on how he will replace Ronaldo with Asensio.The newspaper claimed that Lopetegui would rather use Asensio in his front three than spend a “ludicrous sum” on Hazard.Real Madrid have also accepted the fact that Neymar will not be joining the club this summer.last_img read more