HPCL looks to buy Shell’s assets in Africa

Hindustan Petroleum Corp. (HPCL) is looking to buy Royal Dutch Shell’s fuel retail assets in the African region, according to HPCL Chairman S. Roy Choudhury. Last month, Shell announced that it was talking to Vitol and Helios Investment Partners for selling an undisclosed majority stake in its downstream businesses in 19 countries in Africa. Shell Namibia’s Sales and Operations Manager Pramouth Domun said details of the negotiations will remain confidential. (August 18, 2010)