IHS Chemical Week

Shell sells downstream businesses in Australia to Vitol

11:06 AM MST | February 21, 2014

Shell says it has reached a binding agreement to sell its Australia downstream businesses to energy trader Vitol (Rotterdam) for about A$2.9 billion (US$2.61 billion). The sale covers Shell’s refinery at Geelong and 870-site retail business along with its bulk fuels, bitumen, chemicals, and part of its lubricants businesses in Australia. The sale also includes a brand license arrangement and an exclusive distributor arrangement in Australia for Shell Lubricants. The deal is expected to close later this year. The sale does not include the aviation fuel business...

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