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Brexit may slow down planned asset sales, says Shell

The CEO of oil Giant Royal Dutch Shell, which produces a number of high quality oil-based products – including Shell Gadus S2 V100 3, Shell Omala S2 G 320, and Shell Tellus S2 M 46 – has warned that Britain’s decision to leave the European Union could cause the company to slow down on its plans to sell $30bn (£23bn) of assets, a Shell source has told Reuters.

This is particularly in the North Sea, which has had trouble attracting any buyers for many years now.

The company had intended to have all of its disposals wrapped up by around 2018, however, a source, who wished to remain anonymous due to the fact they were speaking at a private event held by Shell, revealed to Reuters that:

‘Ben (van Beurden, CEO of Shell) said that post-Brexit, the disposals could take more than three years to complete.”

The Brexit result, which could have far-reaching consequences for a number of businesses, was not the only problem to hit Shell in recent weeks. The company also suffered from a small blaze, which broke out on one of their construction sites in South Korea, where the company is currently building a massive floating prelude for a new liquefied natural gas project.

Luckily, the fire was able to be put out, and work was able to resume on the site straightaway, although the company has said that an investigation is underway. Shell remains confident that the fire will not affect the project’s delivery schedule, said Reuters.

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