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Shell to buy Repsol assets
SPANISH oil group Repsol yesterday confirmed that Shell will buy some of its liquid natural gas assets for a total of $6.7bn (£4.4bn) in cash, leases and debts.
Repsol has agreed to sell off assets in Trinidad & Tobago, Peru and Spain in a deal intended to cut net debt at the firm.
The Spanish group said last night that the assets had attracted more than a dozen bids, and that the sale will generate a $3.5bn capital gain.