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Terminal News

Shell sells upstream & storage terminal assets in New Zealand to OMV

Shell sells upstream & storage terminal assets in New Zealand to OMV
Shell has completed the sale of its shares in its entities in New Zealand, including the Māui, Pohokura and tank farm assets, to OMV for $578 million.

The sale also includes Shell's interest in (and operatorship of) the Great South Basin venture, which was subject to a separate agreement.

The company says the sale is consistent with its global drive to simplify the upstream portfolio and re-shape the company into a world class investment.

Zoe Yujnovich, EVP, Australia and New Zealand, says: 'We are proud of having worked in New Zealand for more than 100 years and completion of the sale to OMV marks an important milestone in the company's history.'



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