EU regulators clear Shell purchase of BG Group
[BRUSSELS] Royal Dutch Shell gained EU antitrust approval on Wednesday for its 47-billion-pound acquisition of BG Group after regulators said the deal did not pose any competition issues.
The European Commission said the transaction would not grant Shell market power in oil and gas exploration, the liquefaction of gas and the wholesale supply of liquefied natural gas.
The merged company, which will be the world's top liquefied natural gas company, will be better able to compete with world No 1 oil major ExxonMobile.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Exxon-Pioneer deal gets green light from US FTC, Pioneer exec barred from board
Shell maintains pace of buybacks as profit beats estimates
Gold prices drift higher as Fed stands pat on key interest rate
Oil falls to 7-week low on surprise US storage build, Middle East hopes
US, Philippines eye agreement to cut China nickel dominance
Oil eases on higher US crude output, hopes of Israel-Hamas ceasefire