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

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SOURCE EIN News