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Shell to sell interest in Colonial Enterprises Inc. to Brookfield subsidiary

HOUSTON, April 4, 2025 /PRNewswire/ — Shell Midstream Operating LLC (SMUS), a subsidiary of Shell plc (“Shell”), has agreed to sell its 16.125% interest in Colonial Enterprises, Inc. (“Colonial”) to Colossus AcquireCo LLC, a wholly owned subsidiary of Brookfield Infrastructure Partners L.P. and its institutional partners (collectively, “Brookfield”), for $1.45 billion.

“This divestment reflects our focus on performance, discipline and simplification,” said Andrew Smith, President of Shell Trading & Supply. “It will allow us to concentrate on areas where we have scale and competitive advantage.”

The transaction is subject to regulatory approvals and is expected to close in Q4 2025.

Notes to editors

  • Together with Shell, the co-owners of Colonial Enterprises, Inc. have agreed to sell 100% of their Colonial shares to Brookfield. Colonial is divided among five partners: Shell Midstream Operating LLC (16.125%), Koch Capital Investments Company, LLC (28.088%); KKR-Keats Pipeline Investors, L.P. (23.443%); Caisse de dépôt et placement du Québec (16.549%); and IFM Investors (IFM) (15.795%).
  • The sale values Shell’s share of Colonial at $1.45 billion, inclusive of approximately $500 million in non-recourse debt and excluding customary closing adjustments.
  • Colonial operates as an independent company and fully owns Colonial Pipeline Company (CPC), a non-operated venture, as well as Colonial Marketing Company. CPC provides oil products transportation services from the US Gulf Coast to the US Atlantic Seaboard.
  • Shell Midstream Operating LLC is an indirect, wholly owned subsidiary of Shell Pipeline Company LP, and the largest pipeline operator in the Gulf of America. It transports 1.5 billion barrels of crude oil, refined products, chemicals and NGLs annually through its vast network of pipelines and tank farms across 12 states and the Gulf of America.
  • The U.S. is a key market for Shell, where it has interests in 50 states and employs more than 12,000 people who work to provide a secure supply of energy today, while tackling the energy challenges of the future. Shell’s U.S. portfolio of operated companies and interests consists of oil, natural gas, petrochemicals, lubricants and refined fuel products along with renewables such as wind, solar, and mobility segments like electric vehicle charging.

Cautionary note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this press release “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ”Subsidiaries”, “Shell subsidiaries” and “Shell companies” as used in this press release refer to entities over which Shell plc either directly or indirectly has control. The term “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

Forward-looking Statements

This press release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”; “ambition”; ”anticipate”; ”believe”; “commit”; “commitment”; ”could”; ”estimate”; ”expect”; ”goals”; ”intend”; ”may”; “milestones”; ”objectives”; ”outlook”; ”plan”; ”probably”; ”project”; ”risks”; “schedule”; ”seek”; ”should”; ”target”; ”will”; “would” and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak, regional conflicts, such as the Russia-Ukraine war, and a significant cybersecurity breach; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2024 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this press release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this press release, April 4, 2025. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release.

Shell’s Net Carbon Intensity

Also, in this press release we may refer to Shell’s “Net Carbon Intensity” (NCI), which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “Net Carbon Intensity” or NCI are for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell’s net-zero emissions target

Shell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and NCI targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target, as this target is currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

Forward-looking non-GAAP measures

This press release may contain certain forward-looking non-GAAP measures such as divestments. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.

The contents of websites referred to in this press release do not form part of this press release.

We may have used certain terms, such as resources, in this press release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

BIG BANG NIGHT: KYLIAN MBAPPÉ AND USAIN BOLT JOIN HUBLOT IN THE CELEBRATION OF THE 20 YEARS OF ITS ICONIC MODEL

GENEVA, April 4, 2025 /PRNewswire/ — Hublot marked the 20th anniversary of its iconic Big Bang model with a memorable evening and first ever encounter of its ambassadors Kylian Mbappé and Usain Bolt at the Geneva Arena, as part of the Watches & Wonders fair. This unforgettable celebration was a tribute to Hublot’s trailblazing spirit and an ode to the brand’s “Art of Fusion”.

Hublot: Eneko Atxa, Clare Smyth, Anne-Sophie Pic, Andreas Caminada and Yannick Alleno
Hublot: Eneko Atxa, Clare Smyth, Anne-Sophie Pic, Andreas Caminada and Yannick Alleno

Last night, Hublot brought together the international elite of watchmaking, sport, gastronomy and music to celebrate the 20th anniversary of the Big Bang, the watch that revolutionised contemporary Swiss watchmaking. The event highlighted the many facets of the world of Hublot, truly sensorial experiences. Chefs and brand ambassadors Anne-Sophie Pic, Clare Smyth, Yannick Alléno, Eneko Atxa and Andreas Caminada boast a combined total of 43 Michelin stars between them; these five culinary masters put on an unprecedented gastronomic performance as they prepared personalised signature dishes created especially for the anniversary. Each chef worked live in their own space, creating culinary delights which were a treat for the guests’ eyes and taste buds.

Julien Tornare, CEO of Hublot, welcomed the guests with a moving speech recounting the Big Bang’s two decades of phenomenal success. “Our icon, the Big Bang, has redefined the codes of contemporary watchmaking,” he said. “Twenty years on, celebrating its revolutionary mindset, the Big Bang continues to embody the boldness, innovation and pioneering spirit for which Hublot is renowned. It was such an emotional moment to have our Hublot Family united on this unprecedented occasion”.

The evening continued with a breathtaking performance by master mentalist and friend of the brand, Lior Suchard, who stunned the audience. Among the guests present were a host of Hublot ambassadors and friends, including football champion Kylian Mbappé, the world’s fastest man, Usain Bolt, professional sailor and 3 times Vendée Globe finisher, Alan Roura, world champion sprinter, Mujinga Kambundji, and head coaches for the France and Portugal football teams Didier Deschamps and Roberto Martinez.

The Geneva-born, New York-based DJ, producer and multi-instrumentalist Alissia then ignited the room with a vibrant set. Her unique style, a blend of funk, R&B and pop, set the stage perfectly for the highlight of the event: A performance by Mika. Hublot invited the Lebanese-American-British artist famous for his numerous hits to celebrate this special anniversary, and the star duly delivered a dazzling performance in an electric atmosphere. The party went on until the early hours of the morning, with Alissia returning to the decks for a high-energy DJ set that had guests dancing the night away.

A true creative canvas, the Big Bang has set the stage for two decades of breathtaking ingenuity, enabling the introduction of new materials, rethinking traditional mechanical complications and transcending the barriers between watchmaking and art.

Hublot: Usain Bolt, Kylian Mbappé, Julien Tornare
Hublot: Usain Bolt, Kylian Mbappé, Julien Tornare

 

Hublot: Kylian Mbappé, Julien Tornare and Usain Bolt
Hublot: Kylian Mbappé, Julien Tornare and Usain Bolt

 

/DISREGARD RELEASE: Visionary Holdings Inc./

We are advised by Visionary Holdings Inc. that journalists and other readers should disregard the news release, “Visionary Ventures into the New Energy Vehicle Battery Swap Field in Hong Kong, Providing Strong Assurance for Sustainable Revenue Growth”, issued on March 12, 2025 by Visionary Holdings Inc. over PR Newswire, as the release contained erroneous information.

/DISREGARD RELEASE: Visionary Holdings Inc/

We are advised by Visionary Holdings Inc. that journalists and other readers should disregard the news release, “Visionary Holdings Establishes Industrial Fund in Hong Kong to Boost New Energy Vehicle Business Growth”, issued on March 26, 2025 by Visionary Holdings Inc. over PR Newswire, as the release contained erroneous information.

Kia showcases design philosophy and latest vehicles with ‘Eclipse of Perceptions’ and ‘Transcend Journey’ exhibits at Milan Design Week 2025

–     ‘Eclipse of Perceptions’ exhibit continues Kia’s dedication to supporting art and culture by providing a platform for artists from diverse backgrounds

–     Conceptual artworks interpret Kia’s ‘Opposites United’ design philosophy through various mediums including sculpture, sound and light

–     ‘Transcend Journey’ exhibit highlights the transformative power of Kia’s new PBV and EV models

–     Opposites United: Eclipse of Perceptions runs from April 7-13 at Museo della Permanente in Milan

–     Transcend Journey display takes place from April 7-9 at Eastend Studios in Milan

SEOUL, South Korea, April 4, 2025 /PRNewswire/ — Kia Corporation will host dual events at Milan Design Week 2025; a public exhibition highlighting its ‘Opposites United’ design philosophy, alongside an exclusive installation featuring the brand’s latest PBV and EV models.

Kia ‘Opposites United: Eclipse of Perceptions’ exhibit to take place at Milan Design Week 2025
Kia ‘Opposites United: Eclipse of Perceptions’ exhibit to take place at Milan Design Week 2025

Opposites United: Eclipse of Perceptions

Opposites United: Eclipse of Perceptions, a public exhibition, will showcase Kia’s ongoing transformation while fostering cultural exchange and creative exploration that both challenges and inspires. Featuring conceptual artworks by visionary artists such as Philippe Parreno and A.A. Murakami, the exhibition invites visitors to engage with the ideas, philosophies, and expressions that shape contemporary creativity.

Spread across several rooms in the Museo della Permanente, each space offers a sensory journey that immerses participants in artworks designed to encourage a reevaluation of their perception of the possible.

Opposites United: Eclipse of Perceptions runs from April 7-13 at the Museo della Permanente. More details will be revealed on April 7.

Transcend Journey

Transcend Journey, an exclusive installation, will explore the evolution of mobility, highlighting how Kia’s vehicles can bridge the gap between urban and outdoor experiences.

Focusing on Kia’s latest PBV and EV models, the artwork will demonstrate how these vehicles enhance the user experience by connecting modern mobility with adventurous lifestyles. A twisting sculpture will symbolize the harmonious uniting of opposing ideas, while collaborations with leading South Korean outdoor and coffee brands will highlight the diverse applications of Kia’s vehicles.

Transcend Journey takes place from April 7-9 at Eastend Studios. Further details of the exhibit will be provided on April 10.

Kia at Milan Design Week

For a third consecutive year, Kia will use the occasion of Milan Design Week to shed new light on the evolution of its ‘Opposites United’ design philosophy.

To read the full release, visit the Kia Global Media Center at www.kianewscenter.com

 

Kia ‘Transcend Journey’ exhibit teaser to take place at Milan Design Week 2025
Kia ‘Transcend Journey’ exhibit teaser to take place at Milan Design Week 2025

Lao Man Arrested in Thailand for Unauthorized Employment as Driver

A Lao man were arrested by Thai police (Photo: Khaosod)

A Lao man was arrested in Huai Khwang zone, Thailand on 1 April for engaging in unauthorized work as a driver for Thai citizens. 

China Urges Firms to Follow Laws After Bangkok Building Collapse

China Urges Firms to Follow Laws After Bangkok Building Collapse
The sun sets over the site of an under-construction building collapse in Bangkok on April 3, 2025 (Photo by Amaury PAUL / AFP)

AFP – China’s embassy in Bangkok called on Chinese companies operating abroad to comply with local laws after a Chinese construction firm came under scrutiny for a deadly building collapse in last week’s earthquake.

Moomoo Malaysia Recognised for Fintech Innovation at Malaysia Technology Excellence Awards 2025

The award-winning digital brokerage is recognised for its AI-powered trading tools, seamless global market access, and institutional-grade tools and resources for retail investors.

KUALA LUMPUR, Malaysia, April 4, 2025 /PRNewswire/ — Moomoo Securities Malaysia Sdn. Bhd. (Moomoo Malaysia) has been recognised for its cutting-edge innovations in financial technology, winning two awards – Fintech – Brokerage and Fintech – Financial Technology at the Malaysia Technology Excellence Awards 2025. The MTEA awards recognizes companies at the forefront of technological innovation, honouring those that drive digital transformation and set new benchmarks in their respective industries.

Indy Lau, COO of Moomoo Malaysia accepting the award for best Fintech brokerage and Financial Technology at the Malaysia Technology Excellence Award 2025 in Kuala Lumpur
Indy Lau, COO of Moomoo Malaysia accepting the award for best Fintech brokerage and Financial Technology at the Malaysia Technology Excellence Award 2025 in Kuala Lumpur

“Winning these awards within our first year of operation is incredibly encouraging. It demonstrates that our technology-first approach – powered by AI and advanced analytics – is resonating strongly with Malaysian investors. We’ve always believed technology should simplify and democratise investing. Our growth to over 500,000 users in less than a year, becoming Malaysia’s No. 1 financial app by downloads and daily active users lets us know we’re on the right track.” said Indy Lau, Chief Operating Officer of Moomoo Malaysia.

Moomoo Malaysia was recognized specifically for its innovation in brokerage and financial technology. The digital brokerage stands out by integrating institutional-level analytics, AI-driven trading features, and seamless global market connectivity within a single, user-friendly platform. Among the innovative features Moomoo Malaysia introduced are Malaysia’s first fully digital in-app IPO subscription service and a proprietary AI-powered Candlestick Chart Analysis tool, providing retail investors with real-time insights and market intelligence. It is also the first licensed brokerage in Malaysia to offer direct retail access to U.S. options trading.

Empowering Smarter Investing

Beyond technological advancements, Moomoo Malaysia is committed to improving financial literacy among Malaysian investors through its Moo Learn initiative. With more than 700 free educational resources available, including webinars and interactive tutorials, the platform has accumulated over 2.7 million views, reflecting the strong local demand for accessible financial education. The platform’s Moo Community with a robust community of over 25 million investors provides a vibrant space for investors to exchange insights and learn collaboratively.

Ivan Mok, CEO of Moomoo Malaysia, emphasised the company’s mission: “Our vision goes beyond trading; we want to reshape financial literacy and empower Malaysians through technology-driven investment resources and education. Recognition from the Malaysia Technology Excellence Awards reaffirms our commitment to continue innovating and delivering value to every Malaysian investor.”

Since launching in February 2024, Moomoo Malaysia has rapidly grown to become the No. 1 trading app* by downloads and DAU, surpassing over 500,000 users within one year. The company continues to expand its offerings, providing Malaysian investors with seamless global access, intelligent market insights, automation-driven trading tools, and education-led investing experiences.

For more information, visit www.moomoo.com/my.