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Shell in negotiations to sell its Swedish assets

September 07/2010

LONDON (Reuters) -- Royal Dutch Shell is in exclusive talks with Finnish fuel distributor St1 to sell the oil major's Swedish refinery, both companies said on Monday.


If the companies reach an agreement, it would be the second European refinery deal for Shell in a short period, following the sale of its German refinery in late August.


Shell has been looking for buyers for other refineries in Europe as a part of a plan to divest about 15 percent of its refining assets as margins are expected to remain weak for a long time in many developed countries, where industry experts say demand has peaked.

Shell in negotiations to sell its Swedish assets










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