Shell to sell Hong Kong and Macau LPG assets

Shell is to sell its liquefied petroleum gas (LPG) business in Hong Kong and Macau. The energy giant announced the conditional sale to DCC Energy has a total value of $150.3 million (£120.5m). It stressed the region remains an important market and said the deal would not have any impact on its other businesses. As part of the agreement, Shell’s branding will remain visible […]

Australia blocks Chinese firm from stake in electricity grid

Australia has blocked Chinese and Hong Kong firms from taking a stake in electricity grid. State Grid Corp and Cheung Kong Infrastructure Holdings were bidding for a 50.4% stake in Ausgrid, a New South Wales’s electricity distribution network. The government said the proposals from both firms “were contrary to the national interest, in accordance with the required provision on […]

‘Asia’s richest man’ buys Dutch waste and energy firm

A Hong Kong billionaire – considered to be the richest person in Asia and the eighth richest in the world according to Forbes – is buying a waste and renewable energy company in the Netherlands for HK$9.7 billion (£805.3m). Four companies controlled by Li Ka-shing (pictured) including Cheung Kong Infrastructure Holdings (CKI) entered into an […]

BP to sell stake in China gas field to Kuwait

BP today announced it has agreed to sell a stake in the Yacheng gas field in the South China Sea (pictured) for $308 million (£189m) in cash. Kuwait Foreign Petroleum Exploration Company (KUFPEC) will get 34.3% interest in the field, which is believed to be the largest offshore natural gas producing field in China. It […]