Oil and Gas

Shell expects BG acquisition to close within weeks


One of the world's largest oil companies, Royal Dutch Shell, expects its roughly $49 billion takeover of rival BG Group to conclude in "a matter of weeks", it said on Wednesday.

The oil major, updating the market one week ahead of a shareholder meeting to vote on the deal, also said it expected full-year core earnings of $10.4-10.7 billion, slightly below a company- provided consensus of $10.8 billion.

A Shell Oil facility in Carson, California
Mike Blake | Reuters

It maintained its 2016 capital investment target of $33 billion and its 2016-18 asset sales projection of $30 billion, provided its acquisition of BG goes through.