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Shell to Divest its 37.5% Stake in German Refinery

By Zacks Equity Research   

Published on December 19, 2016

Integrated energy major Royal Dutch Shell plc (RDS.AFree Report) and leading refining firm VARO Energy recently reported that they are in advanced discussions regarding the divestment of Shell’s 37.5% interest in the PCK Refinery in Schwedt, Germany. The PCK Refinery has the capacity to refine 220,000 barrels of oil per day.

The value of the deal has not been disclosed as yet. However, Shell expects the deal to help it focus its downstream activity on areas where it can be most competitive.

Shell intends to divest as much as $30 billion by exiting operations in five to 10 countries. It has, however, made relatively slow progress…

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