Royal
Dutch Shell open to 'small' acquisitions
AFP
LONDON
Petroleumworld.com 01 27 06
Royal Dutch Shell said Thursday the Anglo-Dutch energy giant was
considering "small" acquisitions of up to 10 billion
dollars (8.2 billion euros) each, according to a company spokesman.
"As we've said before, we keep under review opportunities
for single-digit (billion-dollar) acquisitions with good strategic
fit, synergies and volume upside ... but at the right price of
course," a Shell spokesman told AFP's financial newswire,
AFX News.
Those deals could each be worth "up to 10 billion dollars",
he added, declining to identify the group's potential targets.
Shell had previously ruled out large-scale acquisitions at a time
when oil prices were hovering near record levels.
Peter Voser, chief finance officer, said late last year that the
group would only consider deals within the "single billion
(US) dollar range".
Apart from acquisitions, Shell is also investing around 19 billion
dollars each year in its existing business in an attempt to boost
production and reserves.
AFP
01/26/06
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© 2006 AFP. All rights reserved
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