Skip to main content

Shell completes sale of Argentina downstream assets to Raízen

Published by , Editorial Assistant
Hydrocarbon Engineering,


Shell CAPSA (Shell), a subsidiary of Royal Dutch Shell plc, has completed the sale of its downstream business in Argentina to Raízen for US$916 million in cash, subject to final price adjustments.

The sale includes the Buenos Aires Refinery, around 665 retail stations, LPG, marine fuels, aviation fuels, bitumen, chemicals and lubricants businesses, as well as supply and distribution activities in the country.

In addition, the companies acquired by Raízen will continue the relationships with Shell through various commercial agreements. Completion of the sale follows an agreement announced in April 2018.

Raízen, a joint venture set up in 2011 between Shell and Cosan, is a biofuels producer and fuels distributor in Brazil, where it already manages around 6400 Shell service stations.

The sale is consistent with Shell’s strategy to simplify its portfolio through a US$30 billion divestment programme. It does not include Shell’s upstream interests in the Vaca Muerta shale formation. Shell sees substantial long-term growth potential in Argentina’s shale resources.

Read the article online at: https://www.hydrocarbonengineering.com/refining/02102018/shell-completes-sale-of-argentina-downstream-assets-to-razen/

You might also like

The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process

In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.

Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):