Royal Dutch Shell Plc  .com Rotating Header Image

Vitol mulls bid for Shell’s Australian downstream assets

Shell is ramping up efforts to sell assets after spending as much as $45 billion on projects and acquisitions in 2013

Screen Shot 2014-01-08 at 15.00.10

Vitol Group mulls bid for Royal Dutch Shell’s Australian downstream assets-sources

by Nicel Jane Avellana: 8 Jan 2014

Two sources told Bloomberg that Vitol Group is thinking of making an offer for some of the Australian downstream operations of Royal Dutch Shell Plc. Based in Geneva, Vitol is the biggest independent oil trader in the world.

The people, who spoke on the condition of anonymity because the details are confidential, said that Vitol is evaluating assets like storage terminals, filling stations and an oil refinery located in Geelong. Two other sources have also told Bloomberg that buyout company TPG Capital and another group headed by Macquarie Group Ltd are thinking of bidding for the assets.

Shell is ramping up efforts to sell assets after spending as much as $45 billion on projects and acquisitions in 2013, the report said.

FULL ARTICLE

Comments are closed.

%d bloggers like this: