• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 41 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 7 days What fool thought this was a good idea...
  • 10 days They pay YOU to TAKE Natural Gas
  • 10 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 5 days A question...
  • 16 days The United States produced more crude oil than any nation, at any time.
What’s Really Wrong with Thames Water?

What’s Really Wrong with Thames Water?

Following the Thames Water debacle,…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

Shell Announces Successful Completion Of BG Merger

Shell Announces Successful Completion Of BG Merger

The BG Group will now be officially delisted from the London Stock Exchange after Royal Dutch Shell’s Scheme of Arrangement with the group has become effective.

The entire issued ordinary share capital of BG Group is now owned by Shell.

Shell announced the successful completion of the merger after delivering the court order to the Registrar of Companies earlier today, following the Court’s sanctioning of the Scheme at a February 11, 2016 hearing.

Since Shell originally announced its plans for the deal in April 2015, Chief Executive Officer Ben Van Beurden has been a staunch supporter of the deal, stating that the acquisition of BG Group would be beneficial to shares by way of reducing redundancies, banking on anticipated increases in liquid natural gas sales. Related: Is Venezuela Trying To Hide Oil Assets With This Bizarre Move?

In Monday’s press release, van Beurden said, “This is an important moment for Shell. It significantly boosts our reserves and production and will bring a large injection to our cash flow. We have acquired productive oil and gas projects in Brazil and Australia and other key countries. We will now be able to shape a simpler, leaner, more competitive company, focusing on our core expertise in deep water and LNG.”

As part of the BG Group takeover, Shell will issue 1,523,804,425 New Shell Shares (218,728,308 Shell A shares and 1,305,076,117 Shell B shares), bringing Shell’s total capital to 4,209,649,887 Shell A shares and 3,745,486,731 Shell B shares. Shares of Shell A and Shell B will have equal voting rights. Related: UAE Offers India Free Oil To Ease Storage Woes

The new Shell shares were admitted to the London Stock Exchange by 8:00am GMT February 15, 2016.

The merger will make Shell Britain’s largest publically owned company, as well as the world’s largest producer of liquid natural gas (LNG)—taking the title away from the world’s current largest producer, ExxonMobil Corp.

By Charles Kennedy of Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • kevin on February 17 2016 said:
    Can anyone tell me the plans for the ADR shares.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News