NewsFlashShell sells PCS stake to Qatar Petroleum JV

11 November 2009 04:16  [Source: ICIS news]

SINGAPORE (ICIS news)--Energy major Shell has agreed to sell its 50% stake in naphtha cracker operator Petrochemical Corporation of Singapore (PCS) to a new joint venture, QPI and Shell Petrochemicals Singapore (Pvt) Ltd, officials said on Wednesday.

Shell's 30% interest in downstream polyethylene (PE) and polypropylene (PP) maker The Polyolefin Company (Singapore) Pte Ltd (TPC) will also be transferred to the new joint venture company held with Qatar Petroleum International (QPI).

($1 = S$1.39)

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By: Pearl Bantillo
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