A motorist fills his car with fuel at a Shell station in England. Royal Dutch Shell agreed to sell three refineries and stakes in three oilfields.
(Si Barber/Bloomberg News)
Shell to sell French refineries, stakes in Norwegian Sea fields
A motorist fills his car with fuel at a Shell station in England. Royal Dutch Shell agreed to sell three refineries and stakes in three oilfields.
(Si Barber/Bloomberg News)
AMSTERDAM -- Royal Dutch Shell PLC said yesterday it agreed to sell three oil refineries in France and stakes in two Norwegian Sea fields for about $2.47 billion.
Europe's largest oil company said in separate statements that it agreed to sell two French refineries to Petroplus Holdings AG for $875 million and its 28 percent stakes in the Norwegian Sea-based Skarv and Idun fields to E.On Ruhrgas Norge AS for $893 million.
The company also said its French unit agreed to sell the Berre-l'Etang refinery site for $700 million to Basell, a French chemicals maker. The sale is subject to staff consultation and regulatory approval.
The two refineries have a combined capacity of 220,000 barrels per day.
The Skarv and Idun fields are currently undeveloped.
© Copyright 2007 Globe Newspaper Company.
