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Shell

Shell cancels Saudi gas development project

: Tuesday, July 08 - 2014 @ 01:40

Royal Dutch Shell has decided to end investments in a gas development project in Saudi Arabia, Reuters has reported. “This was a difficult decision but Shell remains committed to the kingdom and we are keen to grow our investments, both in upstream and downstream,” the firm said, without giving a reason for the decision to shelve the joint venture in the Kidan area of the Empty Quarter. At least three foreign firms, Italy’s ENI, Spain’s Repsol and France’s Total, have already abandoned the search for commercially viable gas deposits in that part of Saudi Arabia.

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Tuesday, July 8- 2014 @ 1:40 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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