Companies & Finance

Shell selling New Zealand upstream business to OMV

Shell has agreed to sell its New Zealand upstream oil and gas business to Austria’s OMV for $578 million.
By Staff reporter 16 March 2018 0 30035

Shell has agreed to sell its New Zealand upstream oil and gas business to Austria’s OMV for $578 million, according to Platts.

The move follows a two-year strategic review of Shell’s interests in New Zealand and forms part of its strategy to divest $30 billion of assets by 2018.