Royal Dutch Shell to acquire a 51% stake in Chongqing Doyen Shell Petroleum & Chemical from Chongqing Doyen for $156m.

Royal Dutch Shell, an oil and gas company, agreed to acquire a 51% stake in Chongqing Doyen Shell Petroleum & Chemical, a joint venture between Shell and Chongqing Doyen, from Chongqing Doyen, a diversified manufacturing company, for $156m. China lifted restrictions on foreign investment in gas stations in 2018, scrapping a rule that a Chinese partner must hold the majority of the shares in a chain with more than 30 outlets. The country is also pushing for the wider application of clean energy to transform the country from the world’s biggest polluter to a net-zero emitter by 2060.