Royal Dutch Shell to Retain Ownership of A/S Dansk Shell

Royal Dutch Shell PLC (RDSB.LN) said Tuesday that the sale of A/S Dansk Shell to Dansk Olieselskab AS has terminated and won't complete.

The oil major said its $30 billion divestment program remains on track to be completed in 2018, with deals worth $23 billion concluded, $2 billion announced and $5 billion in advanced progress.

Shell said in September 2016 that it planned to sell Dansk Shell, which consists of the Fredericia refinery and local trading and supply activities, to Dansk Olieselskab for $80 million.

It said at the time that the proposed sale was consistent with the company's strategy to concentrate its downstream operations on areas where it can be most competitive.

Write to Ian Walker at; @IanWalk40289749

(END) Dow Jones Newswires

January 02, 2018 09:15 ET (14:15 GMT)