Shell sells stake in China's Sinopec

Oil giant Shell today boosted its balance sheet with the sale of its stake in China’s largest refiner for $742m (€608m).

Wed, 17 Mar, 2004 - 15:43

Oil giant Shell today boosted its balance sheet with the sale of its stake in China’s largest refiner for $742m (€608m).

The disposal of shares in Sinopec generated a profit of around €300m for Shell, which invested in the Beijing-based company at the time of its flotation in 2000.

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CourtsBusinessHeathrowPlace: ChinaPlace: BeijingPlace: HunanOrganisation: ShellOrganisation: SinopecOrganisation: Chinese governmentOrganisation: BPOrganisation: Morgan StanleyOrganisation: ExxonMobilOrganisation: PetroChina
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