МОSCOW (MRC) -- 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 USD66.3 million, said Hydrocarbonprocessing.
"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."
As MRC informed earlier, Shell is considering selling out of its oil fields in Iraq as part of its global USD30 billion asset disposal program.
Royal Dutch Shell, commonly known as Shell, is an Anglo–Dutch multinational oil and gas company headquartered in the Netherlands and incorporated in the United Kingdom.Created by the merger of Royal Dutch Petroleum and UK-based Shell Transport & Trading, it is the fourth largest company in the world as of 2014, in terms of revenue, and one of the six oil and gas "supermajors".
MRC