Divested ventures

In 2018, we successfully completed our three-year $30 billion divestment programme, a key part of our strategy to strengthen our financial framework and reshape Shell into a world-class investment case. Our efforts to refresh and upgrade our assets will continue. We expect to sell at least $5 billion of assets in 2019 and 2020 to contribute to our ongoing portfolio optimisation programme.

In 2018, completed divestments meant that we exited Downstream in Argentina, Upstream in Ireland, and Integrated Gas in Thailand and New Zealand. We also completed sales of our interest in Canadian Natural Resources Limited, LNG Tiga in Malaysia, the West Qurna 1 field in Iraq, the Draugen and Gjoa fields in Norway and our liquefied petroleum gas marketing business in Hong Kong and Macau.

We also announced sales of our upstream subsidiary in Denmark and the Greater Sunrise fields in Timor Leste.

While we carry out extensive due diligence in each transaction to ensure that buyers have the capabilities to maintain standards in respect of safety, security, the environment and responsibilities to neighbouring communities, we may be held liable for past acts, failures to act or liabilities that are different from those foreseen.