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Australia: Shell sells local assets for $2.4bn: report

THE AUSTRALIAN: FEBRUARY 19, 2014

Screen Shot 2013-12-22 at 19.09.52ROYAL Dutch Shell has sold its downstream assets in Australia, including petrol stations and its Geelong refinery to Vitol for an estimated $2.4 billion, Fairfax Media reports. Last month, Shell sold stakes in a gas project in Western Australia for $1.14 billion as part of the oil company’s drive to improve its return on investment. It is understood Vitol, the world’s largest oil trader, plans to shut down Shell’s Geelong refinery…

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