THE WALL STREET JOURNAL
NOVEMBER 30, 2009, 5:55 A.M. ET
LONDON (Dow Jones)–Exclusive talks between Royal Dutch Shell PLC (RDSB.LN) and India’s Essar Oil Ltd. (500134.BY) over the sale of three European refineries will continue for an unspecified period beyond Monday’s deadline, a Shell spokesman said.
“Shell and Essar jointly confirm that negotiations for the sale and purchase of our three refineries at Stanlow and Germany will continue beyond the end of November,” the spokesman said.
As part of plans to sell 15% of its global refining capacity, or about 600,000 barrels a day of capacity, over the next three years in a restructuring program, Shell is selling the Heide and Harburg refineries in Germany and the Stanlow plant in the U.K.
Voser says more redundancies next year
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