Shell unloads 870 service stations

Comment on this story
IOL pic feb14 shell logo Reuters A Shell logo is seen at a petrol station in London. File picture: Toby Melville

Sydney - Royal Dutch Shell said on Friday it was selling its 870 Australian service stations and an oil refinery to Rotterdam-based energy trader Vitol for A$2.9-billion.

The move is in line with sales of refineries in Britain, Germany, France, Norway and the Czech Republic.

Shell is also selling downstream businesses in Egypt, Spain, Greece, Finland and Sweden.

Ben van Beurden, the Anglo-Dutch firm's chief executive, said in a statement that “we are making tough portfolio choices to improve the company's overall competitiveness”.

Staff at the refinery, service stations and other businesses being sold will kept on by Vitol.

Shell branding will be retained. - Sapa-dpa


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.