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Royal Dutch Shell Plc is selling its Norwegian natural gas supplier Gasnor

  As many businesses are transitioning to shift focus to online based, traditional businesses are looking for venue to reduce cost and get m...

 

As many businesses are transitioning to shift focus to online based, traditional businesses are looking for venue to reduce cost and get more businesses too.

Shell has explored possibilities to secure funds for deals, of which it is also in talks to sell its Norwegian natural gas supplier Gasnor. Shell took over the company in 2012, paying $74 million for the ownership control of the company. Now, they are looking for ways to transition to low-carbon energy sources as they cut green house emissions in 2019.

The pandemic of 2020 is hitting many fossil fuel companies hard, with many expecting a long term reduction in demand for oil and gas services with logistics-transportation related businesses stymied by regulatory travel restrictions globally.

Currently, Shell is valued at US$115 billion with its share prices down by 48% this year.