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Shell Seeks Expressions of Interest for N.Z. Units

By Tracy Withers

May 12 (Bloomberg) — Royal Dutch Shell Plc., Europe’s biggest oil company, is seeking expressions of interest for most of its New Zealand downstream operations including fuel retailing and its stake in the nation’s only refinery.

Shell has appointed UBS AG to advise on the sale of the assets to a single buyer, Jackie Maitland, Shell’s Wellington- based communications manager, said in an interview today. A stake in civil contractor Fulton Hogan will be retained.

Shell said in February it was reviewing the assets, which include a 17 percent stake in New Zealand Refining Co. and 230 fuel outlets for possible sale. Shell is one of the nation’s biggest oil and gas explorers and operates New Zealand’s largest fields. None of the upstream exploration and production assets are under review.

The assets for sale encompass Shell’s involvement in chemicals, bitumen, commercial fuel, aviation, marine, retailing and distribution. The New Zealand Refining stake is worth NZ$277 million ($167 million) based on today’s closing prices.

Maitland said UBS will produce an information memorandum and Shell expects to have expressions of interest by August.

Exxon Mobil Corp., the world’s biggest publicly traded oil company, may sell its 800 Australian fuel outlets for A$500 million ($379 million), the Australian Financial Review reported today, without saying where it got the information.

To contact the reporter on this story: Tracy Withers in Wellington at[email protected].

Last Updated: May 12, 2009 02:03 EDT and its sister non-profit websites,,,,,, and are owned by John Donovan. There is also a Wikipedia feature.

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