Shell, Delek end talks over sale of Montreal refinery

03 August 2010 14:45  [Source: ICIS news]

TORONTO (ICIS)--Shell and Delek US Holdings have ended negotiations over the possible sale of Shell’s 130,000 bbl/day Montreal refinery after failing to come to an agreement, the companies said.

In a statement issued late Monday, Richard Oblath, vice president of Shell Canada's downstream portfolio, said his company would now proceed with its earlier plan to close the site and convert it into a fuel distribution terminal.

The refinery’s base oil and wax production already ended in June, a Shell official told ICIS earlier.

Shell was under pressure from Canada’s federal and the Quebec provincial government to find a buyer for the facility, which employs a staff of around 500.

Shell is also looking to sell refineries and downstream assets in other regions, including Germany, the UK, and Africa.

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By: Stefan Baumgarten
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