Shell in talks to sell base oil ops at German Hamburg refinery

12 January 2011 17:46  [Source: ICIS news]

TORONTO (ICIS)--Shell is in talks with potential buyers to sell the base oil operations and business at its refinery in Hamburg, Germany, it said on Wednesday.

Shell said that the remaining refinery would be converted into a terminal for oil products, with completion expected in 2012.

The move came as attempts to sell the Hamburg refinery had failed after almost two years, Shell said. The measure was part of Shell’s strategy to focus its downstream business on larger refineries.

In Germany, Shell would continue to invest in its Rheinland refinery, which ranked among its 10 largest refineries worldwide, it said.

A Shell lubricants plant, Schmierolwerk Grasbrook in Hamburg, was not affected by the announcement, it added.

The Shell refinery in Hamburg-Harburg has a processing refinery of 5.5m tonnes/year. It produces fuels, base oils and waxes, according to information on the company’s website.

Last year, Shell sold its refinery at Heide, near Hamburg, to an investor.

Shell is also converting a refinery in Montreal, Canada, to a terminal after talks to sell that facility failed last year.

For more on Shell and other producers visit ICIS company intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Stefan Baumgarten
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly