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.

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By: Stefan Baumgarten
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