Shell completes the sale of Shell Refining Company in Malaysia
12/22/2016 7:59:53 AM
Shell has completed the sale of its 51% shareholding in the Shell Refining Company Berhad in Malaysia, which includes the 125,000-bpd refinery in Port Dickson, to Malaysia Hengyuan International Limited for $66.3 million.
“Shell is the leading retail fuels and lubricants provider in Malaysia, which remains an important market for the company,” the company said in a press release. “Shell will maintain supply to its retail and commercial customers, and will honor all current commercial arrangements through existing comprehensive supply agreements in the country. This divestment is consistent with Shell’s strategy to concentrate its global downstream operations in areas where it can be most competitive.”
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