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Shell, Varo end talks on Germany refinery stake sale

October 11/2017

MOSCOW (MRC) Royal Dutch Shell and Varo Energy have ended talks on Varos potential acquisition of Shells 37.5% stake in the 220,000 bpd PCK refinery in Schwedt, Germany, Varo said, as per Reuters.

The two companies announced last December that they had entered advanced talks on the stake sale, but the negotiations have been discontinued, a spokeswoman for Varo told Reuters.

The spokeswoman would not provide details about why the talks had ended.

Varo Energy, a JV between the worlds biggest oil trader Vitol and private equity firm Carlyle Group, owns a refinery in Cressier in Switzerland and the Bayernoil refinery in Germany.
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Crude oil, Shell.
Category:General News
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