Miro stake left on Shell’s European refining to-do list

The major has sold two assets and will futureproof two others, meaning only its share in the German JV remains for divestment

“For refining, it is about repurposing for the energy parks of the future,” says Ben van Beurden, CEO of Shell. The firm wants to concentrate on just five core energy and chemicals parks by the end of the decade and will already have reduced its portfolio to eight once two agreed sales are completed. In Europe, that leaves just its share in the 310,000bl/d Miro refinery in Karlsruhe, southwest Germany, on the block. Shell agreed to sell its 37.5pc stake in the Schwedt refinery, also in Germany, to the Austrian oil trading arm of Baltic Sea tank storage firm Liwathon in July last year, only for Russia’s Rosneft to pre-empt the sale and increase its stake in Schwedt from less than 55pc to more