Shell Sells 35% Interest In Indonesia's Masela Block For Up To $650M To PT Pertamina And Petronas
Portfolio Pulse from Benzinga Newsdesk
Shell has sold a 35% interest in Indonesia's Masela Block for up to $650 million to PT Pertamina and Petronas. The deal is part of Shell's ongoing divestment strategy.
July 25, 2023 | 7:22 am
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Shell's sale of a 35% stake in the Masela Block is part of its ongoing divestment strategy, which could potentially free up capital for other investments.
The sale is part of Shell's ongoing divestment strategy, which aims to streamline its portfolio and free up capital for other investments. While this could potentially be positive in the long term, the immediate impact on the stock price is uncertain, hence the neutral score.
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