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Shell in $2.6bn Australia asset sale

Extract from BBC News article published 21 Feb 2014

Screen Shot 2013-12-22 at 19.09.52Oil giant Royal Dutch Shell has agreed to sell its Australian downstream business to oil trading firm Vitol for $2.6bn (£1.6bn). The sale includes Shell’s refinery in Geelong, 870 service stations, its bulk fuels and chemicals unit and part of its lubricants business. Recent disinvestments by Shell include the sale of refineries in the UK, Germany, France, Norway and the Czech Republic. The firm has also offloaded its downstream businesses in Egypt, Spain, Greece, Finland and Sweden.

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