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Spanish oil giant reaches deal with Shell Spanish oil giant reaches deal with Shell

25 June 2004

MADRID — The Spanish oil company Repsol-YPF has reached a deal with the Anglo-Dutch multinational Shell to buy the majority of Shell’s assets in Portugal, the Spanish group said Friday.

Financial details were not disclosed.

Repsol said the deal would give it control of 303 Shell service stations in Portugal, along with fuel-selling and storgage operations.

The transaction will also enable Repsol to become third largest oil sector operator in Portugal, with 417 service stations and a 19 percent share of that market.

It would also become the second leading direct seller of oil-bearing products, with a 21 percent market share.

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