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Shell not hunting buyers for Montreal refinery

REUTERS

*Media reports say Delek offers C$150 mln for refinery

*Shell spokesman reiterates that sale process ended June 1

Wed Jun 16, 2010 5:05pm EDT

Alberta, June 16 (Reuters) – Royal Dutch Shell Plc (RDSa.L) is sticking by statements that it is no longer looking for a buyer for its Montreal East oil refinery despite reports that a new offer has emerged.

Radio-Canada and other media in Quebec reported on Wednesday that Delek U.S. Holdings, an arm of Israeli energy, automotive and real estate conglomerate Delek Group (DELKG.TA), had doubled a previous offer for the 130,000 barrel per day plant to C$150 million ($147 million) but no source for the information was given.

Both Delek and Shell declined to comment on the reports. However a Shell spokesman said in an email that a release issued earlier this week, saying the sale process had ended on June 1, remained valid.

Shell announced plans in January to convert the 76-year-old refinery into a fuel terminal but at the request of the Quebec provincial government it gave potential buyers more time to make offers.

It received two expressions of interest just before its deadline but it said neither were adequate.

($1=$1.02 Canadian) (Reporting by Scott Haggett and Janet McGurty; editing by Peter Galloway)

REUTERS

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