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FINANCIAL NEWS
Shell ends investments in Saudi gas development
08 Jul 2014
(MENAFN) Royal Dutch Shell said it plans to end its investments in a gas development project in Saudi Arabia, complicating Saudi efforts to exploit its huge gas reserves, according to Arab News.
The search for gas has been a priority for Saudi Arabia as it aims to cover the rapidly growing domestic demand.
Shell said: “Shell has decided to end further investment in the Kidan development.”
It added: “This was a difficult decision but Shell remains committed to the Kingdom and we are keen to grow our investments, both in upstream and downstream.”
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