Shell, like many of the other major vertically integrated companies, has been taking a long and hard look at its assets, and making decisions as to what should stay and what should go. Today, the latest of a line of announcements was made.
Shell today announced it has signed a sales and purchase agreement for its 270,000 barrel-per-day Stanlow Refinery in the United Kingdom and certain associated local marketing businesses with Essar Oil (UK) Limited (Essar) for a total expected consideration of some $1.3 billion.
Stanlow Refinery was the only remaining UK refinery in Shell's portfolio. Like its great rival BP, which sold the Coryton Refinery to Petroplus 4 years ago, it has no refineries in the UK.
With all the announcements made, it can be difficult to keep track of where the restructuring process has got to. The story so far is:
The Elbe Mineraloelwerke Hamburg Harburg Refinery is to close next year. Shell is negotiating for the sale of the base oil production, but will convert the rest of the refinery into a terminal.
The Shell Göteborg Refinery has been sold as part of a package of downstream assets to Keele Oy.
The Shell Montreal Refinery has been turned into a terminal.
Finally, in 2010 Shell sold Erdoelwerk Holstein Heide Refinery to private equity investor Klesch.
* Image: Shell Bukom Refinery, Source - Shell
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