Pernis refinery, Rotterdam
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
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
