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Royal Dutch Shell Sells 2 Refineries

Royal Dutch Shell PLC has signed a letter of intent to sell two oil refineries

Royal Dutch Shell Sells 2 Refineries

Royal Dutch Shell PLC has signed a letter of intent to sell two oil refineries in France to Petroplus Holdings AG for US$875 million (639 million euros), Shell said Thursday.

The deal, to close in 2008, would also include an agreement for Shell to help Petroplus develop and sell specialty lubricants, AP reported.

Shell said the sale, if completed, "would be part of an ongoing strategic review of a number of Shell's refining and petrochemicals assets" and includes the Petit Couronne and Reichstett Vendenheim refineries.

The two refineries have a combined capacity of 220,000 barrels per day.


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