04 April 2013 04:43 [Source: ICIS news]
SINGAPORE (ICIS)--Shell has on Thursday announced its plan to sell its 120,000 bbl/day refinery in Geelong, Australia, by the end of 2014.
The move underpins Shell’s local strategy to grow its retail and bulk fuels business, along with terminals and pipelines, Shell said in a statement.
The company intends to concentrate on investments at its large-scale sites such as its Pulau Bukom refinery in Singapore.
Shell Australia’s downstream vice-president Andrew Smith said Shell will be looking for a buyer that will sustain the company’s growth and look after its employees and the environment.
“I understand this announcement will be difficult for refinery employees, but Shell will support them through this period of uncertainty,” Smith said.
The refinery would be converted to an import terminal if a sale with agreeable terms and conditions cannot be reached, the statement added.
Shell has operated in Australia for more than 110 years. It supplies fuel to around 900 Shell-branded service stations across the nation. It also sells aviation fuel, marine fuel, chemicals, bitumen and lubricants.
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