Shell Eyes East Africa, Makes Bid for Cove Energy

WASHINGTON, Feb. 22, 2012 /PRNewswire/ -- Royal Dutch Shell, the largest European oil company, is eyeing an expansion of its business in East Africa through a 992.4 million pounds Sterling takeover bid for Cove Energy.

While Royal Dutch Shell is already active in Tanzania, acquiring Cove Energy would mark the Anglo-Dutch oil major's entry into Kenya and Mozambique, both with the potential for new LNG from recent gas discoveries.

In a statement, Shell said that the decision to buy Cove Energy fits with the company's "strategic aim to drive forward with its investment programme, to deliver sustainable growth and to provide competitive returns to shareholders."

EIN News' Shell Energy Daily Report (http://shell.einnews.com/) is following the latest developments: http://shell.einnews.com/news/shell-cove-energy

See also:

- Mozambique News - http://shell.einnews.com/country/mozambique
- News by Country - http://shell.einnews.com/all_countries

About the publisher of Shell Energy Daily Report, EIN News (http://www.einnews.com/)
EIN News has developed one of the world's leading real time news indexing services. Its systems continuously scan the web, indexing news from thousands of worldwide sources. The data is then filtered according to specific needs, and the processes are supervised by a team of professional news editors.

Thousands of industry, government and private institutions rely on EIN News for their media monitoring needs. Combining both intelligent search technologies and the human element, EIN News delivers the most efficient, yet personalized media monitoring, news aggregation and syndication services on the market.

EIN News is positioned as the leading news index on the planet.

SOURCE EIN News

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