Shell Plans Assets Sell-Off

14 February 2010 (Last Updated February 14th, 2010 18:30)

Royal Dutch Shell could sell more than $10bn of assets including its North Sea oilfield operations, sources close to the company have revealed. Shell has hired Credit Suisse to sell its $1bn European liquefied petroleum gas arm, according to a report in The Sunday Times.

Royal Dutch Shell could sell more than $10bn of assets including its North Sea oilfield operations, sources close to the company have revealed.

Shell has hired Credit Suisse to sell its $1bn European liquefied petroleum gas arm, according to a report in The Sunday Times.

The first-round bids of about $500m have also been lodged for a network of petrol stations across Africa, the paper added.

Shell, Europe's second-largest oil company by market value, has not made a comment.

Shell is looking at a $5bn disposal programme for onshore fields in Nigeria, an exit from Sweden, and a $1.2bn auction of three European refineries, the paper said.