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    Home > Coatings News > Paints and Coatings Market > $9 billion! Shell intends to acquire petrochemical projects in India.

    $9 billion! Shell intends to acquire petrochemical projects in India.

    • Last Update: 2020-10-19
    • Source: Internet
    • Author: User
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    Every downturn in the oil and gas industry, there will be a wave of bottom-up acquisition of assets boom.
    after Total, Chevron and other acquisitions, oil giant Shell has finally made a deal! Shell recently proposed to pay for a stake in India's Nayara Petroleum Petrochemical Project, a deal that, if completed, would be another major deal for the oil sector this year.
    is understood to be planning to buy a 50 per cent stake in a $US9bn ($62.3bn) petrochemical project at India's Nayara oil company, with the rest likely to be owned by Rosneft.
    Nayara Petroleum, India's largest state-owned refiner, plans to build a petrochemical project for 1.8 million tons of full-steam ethylene cracking and related downstream equipment, as well as an aromatic hydrocarbon complex that is expected to produce 10.75 million tons of petrochemicals per year.
    deal is possible, Shell will take a 50 per cent stake in the premium project, which will help it further expand india's downstream oil and gas market.
    , with the growing domestic energy demand, India has become a number of oil majors to open up new positions.
    Shell is also expanding its oil and gas operations in India by continuing to explore partnerships with Indian oil and gas companies.
    addition to the acquisition, Shell's subsidiary had previously called for a partnership with India's Inox to launch LNG in March.
    , shell has been operating in India for many years, with a particular focus on downstream refining and the oil retail and LNG markets.
    addition, Shell's retail outlets in India have reportedly grown rapidly since 2017 and are expected to continue to grow over the next five years.
    note that Shell has chosen to invest in petrochemical projects or be relevant to its future business planning.
    Shell expects demand for petrochemicals to grow faster than GDP in the future, and plans to invest $3 billion to $4 billion a year in the petrochemical business over the next decade to expand its downstream operations.
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