Shell sells stake in Indonesia assets to Pertamina, Petronas for up to $650M (NYSE:SHEL) seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.
JAKARTA: Petroliam Nasional Bhd’s (Petronas) subsidiary Petronas Masela Sdn Bhd has inked a sale and purchase agreement (SPA) with Shell Upstream Overseas Services (I) Ltd to acquire a 15% participating interest in the production sharing contract of the Masela Block (Masela PSC) in Indonesia.
Petronas, through its subsidiary Petronas Masela, and Pertamina Hulu Energi (PHE) have agreed to acquire a 35% stake in the Masela Block production sharing contract (Masela PSC), offshore
Shares of energy companies rose as traders continued to pile into oil futures, betting that China would unleash another round of stimulus. Oil futures closed.