Shell sells Australian downstream oil assets for A$2.4 bln - media

Wed, 19 Feb - 11:29am

SYDNEY, Feb 19 (Reuters) - Royal Dutch Shell RDSa.L has sold its downstream Australian assets to Dutch-owned oil trader Vitol VITOLV.UL and the Abu Dhabi Investment Council for about A$2.4 billion ($2.2 billion), The Australian Financial Review reported on Wednesday.

The sale would mean Australia's Macquarie Group MQG.AX and its partner Glencore Xstrata were not successful in their efforts to buy the assets, the newspaper said without attributing sources.

Shell has been planning to sell the business, which includes a refinery, import terminals and 900 service stations, as part of a reported worldwide divestment program under CEO Ben Van Beurden, worth about $15 billion.

A Shell spokesman in Australia told Reuters he would not comment on "speculation". A Glencore Xstrata spokesman declined to comment. ($1 = 1.1071 Australian Dollars)

(Reporting by Byron Kaye; Editing by Richard Pullin)

((byron.kaye@thomsonreuters.com))

Keywords: SHELL AUSTRALIA/SALE

URN: 
urn:newsml:reuters.com:20140219:nS9N0K802Q:4
Topics: 
CRU EZC INVD GB CMPNY MEAST ENR MINE DEAL1 RTRS MIN BMAT DVST EUROPE ENER OILG RET FINS MET AU CYCS EUROP COM COAM PROD ASIA BISV SHOP LEN NEWS1 CH MRG REFI INVS BACT NL WEU MTAL NRG CEEU

Contact Us

Due to the security nature of our business, personal meetings are only by pre-arranged appointment.
Phone at any time on

1300 987 995

info@ausmint.com