Shell Dilutes Interest in Mahanagar Gas Limited
Aug 23, 2018
Mumbai: Shell today announced that its wholly owned subsidiary, BG Asia Pacific Holdings Pte Ltd (BGAPH) has continued with the dilution of its shareholding in the publicly listed Mahanagar Gas Limited (MGL) from 24% to now 10%.
This announcement has no impact on other Shell businesses in India.
Shell believes that India offers a vast opportunity for growth for Shell’s businesses and we will continue to pursue opportunities which can enhance Shell footprint in the country. We continue to believe in the key role that gas will play in India and will actively seek opportunities in that arena. Shell looks forward to playing a significant part in the energy transition in India.
Shell India Markets Private Limited
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Edelman India Private Limited
Notes to Editors:
Shell in India
Shell is one of the most diversified international oil company in India's energy sector with over 7000 employees. It is a major private sector supplier of crude products, chemicals and technology to public/private sector oil companies. It maintains a significant presence in the country with its lubricants and retail businesses. Shell also has a technology center, a financial business operations center, an in-house global IT center and operates a joint venture LNG receiving and re-gasification terminal. Through its subsidiary company BG Exploration and Production India Limited, Shell holds a 30% interest in, and is joint operator of, the Panna - Mukta oil and gas fields and the Mid and South Tapti gas fields (PMT fields).
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