Shell to Sell Sinco Pipeline and Colex Terminal to Edgewater [Yahoo! Finance]
VAALCO Energy, Inc. (EGY)
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Source: Yahoo! Finance
stake in the Sinco pipeline system and Colex terminal to a subsidiary of Edgewater Midstream LLC (Edgewater), Houston, TX-based midstream company. This strategic divestiture is aligned with Shell's ongoing efforts to simplify its portfolio and focus on more value-driven projects with lower emissions. The sale is subject to regulatory approval and expected to be completed in the fourth quarter of 2024, following Shell's previous sale of its equity in Deer Park Refinery. This sale rendered the Sinco pipeline and Colex terminal non-integrated and non-strategic within the company's broader "Powering Progress" strategy. Shell's Strategic Shift Toward Simplification Shell's decision to sell the Sinco pipeline system and Colex terminal is part of a broader strategy aimed at optimizing its portfolio. This move reflects Shell's commitment to delivering more value while reducing its environmental footprint. According to Andrew Smith, Shell's executive vice president of Trading & Supply, "
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