Shell to cease refining in France
SHELL will sell its refining and petrochemicals operations in France, it said last month. In two separate agreements, it is to sell its Petit Couronne and Reichstett Vendenheim refineries to Petroplus, and its Berre-l'Etang refinery and petrochemicals facilities to Basell.
The sale of the three refineries, all wholly owned by Shell and with a combined capacity of 300,000 barrels a day (b/d), is consistent with the strategy of "more upstream, profitable downstream", said Rob Routs, the firm's executive director for oil products and chemicals.
Fast-growing Switzerland-based Petroplus will pay $0.875bn, including an estimated $400m of working capital, for Petit Couronne and Reichstett Vendenh
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