Shell Pulls Out of Kalamkas-Khazar Project in Kazakhstan

Date : 10/21/2019 @ 1:32PM
Source : Dow Jones News
Stock : Royal Dutch Shell Plc (RDSB)
Quote : 2292.5  7.5 (0.33%) @ 4:35PM
Royal Dutch Shell share price Chart

Shell Pulls Out of Kalamkas-Khazar Project in Kazakhstan

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By Oliver Griffin

 

Royal Dutch Shell PLC (RDSB.LN) confirmed in an email on Monday that it and other shareholders have pulled out of the Kalamkas-Khazar project in Kazakhstan.

The integrated oil-and-gas company, which had held a 16.81% stake in the NCOC NV consortium, said it decided the project wasn't competitive enough compared with the other opportunities in its global portfolio.

The company said it remains one of the largest investors in Kazakhstan and looks forward to developing future projects in the country.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com

 

(END) Dow Jones Newswires

October 21, 2019 09:17 ET (13:17 GMT)

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