Shell expects a Q3 charge of USD 2 billion-2.5 billion from the recently passed US tax reform bill, but expects future profits to outweigh losses, the super-major said on Wednesday.

Shell in $4.4-bln asset sales

THE HAGUE, November 1, 2017 – Royal Dutch Shell announced on Wednesday two separate asset sales worth a total of about USD 4.4 billion.

Independent Chrysaor bought USD 3.8 billion worth of the super-major’s North Sea assets for an initial consideration of USD 3 billion plus additional contingent payments of up to USD 800 million.

“With the acquisition of this package of high quality, low cost production assets, Chrysaor becomes the leading independent in the UK North Sea,” Chrysaor CEO Phil Kirk said in a statement.

Separately, Carlyle Group unit Assala Energy Holdings completed the acquisition of Shell’s onshore assets in Gabon for USD 628 million.

Both deals demonstrate “the clear momentum behind Shell’s USD 30 billion divestment programme and is in line with Shell’s drive to simplify the upstream portfolio and re-shape the company into a world class investment,” the Shell statements added.

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