According to Reuters, the super-major received bids from several companies including state-owned YPF, China National Petroleum Corporation and Chilean firm Quinenco, with Brazil’s Raízen presenting the highest non-binding offer, at more than USD 1 billion.
If the sale goes through, Raízen would acquire 630 retail stations, through financing from banks or capital raised from bond markets.
Both Shell and Raízen declined to comment on the potential deal.
Raízen sells Shell petrol through its retail chain in Brazil, which is the country’s second-largest. The company is a 50/50 joint venture established by Shell and Brazilian firm Cosan.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.