Shell considers sale of downstream business

Shell considers sale of downstream business
Royal Dutch Shell P.L.C. is mulling the sale of its petrol retail network and fuel distribution business in New Zealand as part of its broader strategic business review. Shell, which has been active in New Zealand for around 100 years, is seeking to refocus on worldwide oil exploration and high-growth markets. The prospective sale of its downstream assets is expected to see interest from the company’s competitors in the fuel retail segment, financial services companies and other global oil majors. Shell’s New Zealand businesses, which are under review, are believed to collectively earn up to US$150 million per year. (February 18, 2009)