Kuwait agrees to buy Italian business from Shell

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Anglo-Dutch oil and gas major Shell said on Thursday it has agreed to sell its Italian retail and aviation business to Kuwait Petroleum International.

"The sale is consistent with Shell's strategy to concentrate Shell's downstream footprint on a smaller number of assets and markets where we can be most competitive," the company said in a statement, without giving financial details.

Shell's Italian retail network will be rebranded Q8 as part of the agreement, the company said.

The transaction is subject to regulatory approval.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi riyal peg pressure eases, but not gone

Saudi riyal peg pressure eases, but not gone

Volatile energy swings mean the currency remains vulnerable,...

The Gulf's sovereign dilemma

The Gulf's sovereign dilemma

With oil prices still faltering around their lowest level in...

Gulf's bond market thaws as panic over oil fades

Gulf's bond market thaws as panic over oil fades

Improved sentiment seen in the response to a $500m, five-year...

Most Discussed
sponsoredTracking