Royal Dutch Shell said its move to sell off its share in a petrochemical joint venture with a Saudi partner is part of its effort to retool its regional focus. Shell sold its stake in a joint venture effort to Saudi Basic Industries Corp. for $820 million in a move that solidifies the Dutch supermajor’s shifting priorities in the wake of last year’s acquisition of BG Group. The agreement marks the end of a joint venture agreement that was set to expire in 2020. “This step will allow Shell to focus its downstream activities and make selective investments to support the growth of its global chemicals business,” the Dutch supermajor said in the weekend announcement. SABIC last week reported its full-year net profit in 2016 declined […]