Pharos Energy said on Tuesday it was withdrawing from a consortium evaluating the acquisition of Shell Egypt NV’s assets in the Western Desert in Egypt, amid a collapse in global oil prices.
Acquisition of the upstream portfolio is unlikely to be in shareholders’ best interests in light of current market conditions, Pharos Energy said.
Copyright © 2024 M&A Critique!. All pages of the Website are subject to our terms and conditions and privacy policy. You must not reproduce, duplicate, copy, sell, resell or exploit any material on the Website for any commercial purposes.We have made a sincere effort to ensure that all photographs used on this website are either freely available in the public domain or used with permission. If you believe your work is being used inappropriately, please let us know and we will address the matter immediately.
[ultimatemember form_id=140]
WhatsApp us