Article
Email Email Print Print
Clip Clip & File

Only on Che.com :: Latest News

February 21, 2014

Vitol to purchase Shell's Australian downstream businesses for $2.6 billion

Mary Page Bailey

Royal Dutch Shell plc (The Hague, the Netherlands; www.shell.com) has announced that it has reached a binding agreement to sell its Australia downstream businesses (excluding Aviation) to The Vitol Group (Rotterdam, the Netherlands; www.vitol.com) for a total transaction value of approximately $2.6 billion.
 
The sale covers Shell’s Geelong Refinery and 870-site retail business, along with its bulk fuels, bitumen, chemicals and part of its lubricants businesses in Australia. It also includes a brand license arrangement and an exclusive distributor arrangement in Australia for Shell Lubricants. It does not include the Aviation business, which will remain with Shell Group, or the lube oil blending and grease plants in Brisbane, which will be converted to bulk storage and distribution facilities. The majority of Shell’s downstream staff in Australia will continue to operate the business under its new owner. Shell’s upstream operations in Australia, in which it will continue to invest, are not impacted by this announcement.

Add a Comment

Name:
Email:
Comments:

Please enter the letters or numbers you see in the image. (refresh)
 
 

Related Stories

LinkedIn Groups

Our LinkedIn group is now over 28,000 members strong!

  1. Join other CPI professionals from all over the globe and share best practices, expertise, concerns and more.
  2. Provide feedback to Chemical Engineering Editors


Current members represent Worley Parsons, DuPont, SABIC, Fluor, Air Products, LyondellBasell, Nalco, Dow Chemical, Dow Corning, BASF, Jacobs Engineering, ExxonMobil, Shell, Chevron and more.

Join Now



We also offer the following subgroup for more targeted discussions:

Tools
Search the Buyers' Guide

Plant Cost Index

Facts at Your Fingertips (archive)

Ask the Experts

Back Issues
X
To access this area, please log in or create an account.
Username:
Password:
Forgot your password?
Request it now.
Processing...
Live chat by BoldChat