Shell and Commerce One to set up petrochemical portal

NEWS Shell is teaming up with Commerce One to develop a Web site for the chemicals, gas and oil industry. The business-to-business solution provider will set up the electronic exchange linking buyers and sellers of goods and services throughout the world in a deal expected to go through by the end of March 2000. The site will be based on the Commerce One MarketSite portal which will receive licence fees for its Internet technology. The oil giant will hold the majority stake in the venture with Commerce One holding a smaller stake.