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Shell Selling Turkish Unit to Perenco

December 4, 1995

LONDON (AP) _ Royal Dutch Shell Group of Cos. agreed to sell its Turkish-based NV Turkse Shell unit to Perenco, an independent, international operating company.

Perenco was formerly known as Kelt Energy.

In a statement, Shell said that the unit doesn’t fit its exploration and production strategy. Shell Petroleum announced in June its intention to sell the unit.

Shell said the sale would not affect its plan to expand its Turkish refining and marketing activities.

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