Shell Oil Company sells Cape Verde Subsidiary

Categorized | Environment, Events, Investment, News, Politics & Economy

Shell Oil Company sells Cape Verde Subsidiary

Posted on 10 April 2010

The petro chemical giant Shell Oil plans to move out of Cape Verde. A total of 21 subsidiaries are up for sale across Africa, the chairman of Shell Oil Cape Verde, Emanuel St Aubyn stated. The massive multinational company will mainly focus on oil production and exploration, while separating from refining distribution and sale in Africa. St Aubyn also stated that the sale of Shell Cabo Verde would not affect commitments made by the subsidiary in relation to partnerships with Cape Verdean oil company Enacol and the Cape Verde state. The sales and restructure of the multination giant will also effect operations in Guinea, Kenya, Uganda, Morocco, Namibia, Madagascar, Mauritius Algeria, Ghana, Togo Tunisia, Egypt, the Ivory Coast, Burkina Faso, , Senegal, Mali, Tanzania, Botswana, and Reunion, as well as the liquid petroleum gas (LPG) business in South Africa.

About Cape Verde

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