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Shell to sell Australian downstream businesses to Vitol

Petroleum Review; 20/02/2014

Shell is to sell its Australia downstream businesses (excluding Aviation) to Vitol for some A$2.9bn ($2.6bn). 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 licence 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.

Shell’s upstream operations in Australia, in which it will continue to invest, are not impacted by this announcement.

Other recent downstream divestments by Shell include the sale of refineries in the UK, Germany, France, Norway and the Czech Republic, and downstream businesses in Egypt, Spain, Greece, Finland and Sweden, as well as the creation of a downstream joint venture – with Vitol and other partners – across Africa, and the planned sale of some downstream businesses in Italy and Norway.

News Item details

Journal title: Petroleum Review

Countries: Australia - Asia-Pacific -

Subjects: Retail and marketing, Refining, Lubricants