By Jessica Resnick-Ault | NEW YORK
Oct 18 2016
Royal Dutch Shell plc has retained Deutsche Bank to sell its Martinez, California refinery, according to three people familiar with the matter.
Shell is in the midst of a three-year, $30 billion divestment plan following the company’s purchase of BG Group earlier this year.
A Shell spokesman said the company would not comment on “rumor or speculation.” Deutsche Bank declined to comment.
The refinery, located 30 miles (48 km) northeast of San Francisco, has been operating since 1915. It can process about 165,000 barrels of crude oil daily into gasoline, jet fuel, diesel and other refined products. It has a coker unit used for processing heavy grades of crude.