Royal Dutch Shell said Thursday it made further advancements on its divestment effort by selling off its stake in a natural gas field in Thailand. Shell’s natural gas subsidiary said it sold its 22.2 percent stake in the Bongkot field to Thai company PTT Exploration & Production Public Co. Ltd., PTTEP, for $750 million. The Thai company increased its stake to 66.6 percent and became the operator, alongside minority partner Total. “Completion of this deal shows the clear momentum behind Shell’s value-driven $30 billion divestment program and is in line with Shell’s drive to simplify and refocus its portfolio, reshaping the company into a world class investment,” the Dutch supermajor stated. The Thai divestment followed […]