$820m sale of Saudi Arabian plants continues Shell’s global reorganisation programme

Saudi Basic Industries (Sabic) will take complete control of Sadaf - its joint venture with Shell, based in Jubail, Saudi Arabia. The $820 million (£653 million) deal supports Sabic’s increasing focus on producing more complex, value-added chemicals. From Shell’s point of view it is part of a programme to sell off $30 billion in assets as the company reorganises after its $35 billion acquisition of BG group in 2016.

Shell has been steadily selling off peripheral assets and business units, including $3.8 billion-worth of interests in the UK North Sea; oil production and refining businesses in the Gulf of Mexico, Malaysia, Thailand, Canada, Denmark and Japan; and fuels and lubricants businesses in Australia, Denmark, Italy and across Africa.

As Business editor, Phillip's aim is to highlight to readers the exciting and innovative chemistry going on in the commercial sector, as well as keeping them abreast of trends and developments in the world of chemistry businesses.View full profile

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