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Associated Press: Shell May Sell Some Refinery Assets

Thursday January 11, 12:55 pm ET 
Shell Reviewing Some Refinery Assets for Possible Sale

AMSTERDAM, Netherlands (AP) — Royal Dutch Shell PLC said Thursday it would conduct a “strategic review” of some refinery assets, an indication it may sell them.

The assets include the Petit-Couronne and Reichstett-Vendenheim refineries and the Berre-l’Etang refinery site complex in France, with a combined capacity of around 300,000 barrels per day, and the Yabucoa plant in Puerto Rico, which has a capacity of 79,000 barrels per day, Shell said.
 
Shell is also reviewing operations in the Dominican Republic, where it owns a 50 percent stake in the 30,000 barrels per day Refidomsa refinery.

“The assets we’re reviewing are important to their markets, and in fact a number of parties have approached us with an interest in purchasing them as going concerns,” Rob Routs, head of Shell’s refining arm, said in a statement.

“We’re looking closely at how these assets can generate best value for our shareholders. This review is part of our ongoing strategy to streamline and concentrate our … portfolio,” he said in the statement.

Shell said that any sale would require regulatory approval, and that it would update the market “on these strategic reviews as they are concluded.”

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