Shell sells Malampaya stake to Udenna
Shell sells Malampaya stake to Udenna Danessa Rivera © Bworldonline Shell sells Malampaya stake to Udenna MANILA, Philippines — Royal Dutch Shell has divested in the Malampaya deep water gas-to-power project after selling its stake to a unit of Udenna Corp. of Davao-based businessman Dennis Uy, which now owns 90 percent of the country’s major gas field. In a statement, Shell Petroleum N.V. said it has signed an agreement with Malampaya Energy XP Pte Ltd., a subsidiary of Udenna, for the sale of its 100 percent shareholding in Shell Philippines Exploration B.V. (SPEX). S...
Source: msn.com