Shell sells Denmark refining business
Denmark
THE HAGUE, September 16, 2016 – Shell reached an agreement to sell its Denmark downstream assets to local player Dansk Olieselskab, the IOC announced on Thursday.
The transaction comprises the 70,000-bpd Fredericia refinery, as well as local trading and supply activities, for about USD 80 million including working capital. Long-term agreements for the supply of crude oil and feedstock to the refinery and for the offtake of some products refined at the plant will also be transferred to Dansk Olieselskab.
This deal completes Shell’s complete withdrawal from Denmark’s downstream sector and is expected to complete in 2017, subject to regulatory approval.
Shell had already sold its Danish marketing business to Couche-Tard in May 2016. The latter now operates the marketing business under the Shell brand through a trademark licence agreement.
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