Shell to sell retail assets in PanamaShell to sell retail assets in Panama

Panama’s largest fuel retailer Petróleos Delta and exclusive distributor of ExxonMobil lubricants in the country has announced that it has reached an accord with Royal Dutch Shell to acquire its assets in the country for an undisclosed sum, according to media reports. The deal is subject to approval from the consumer protection and competition defense authority. According to Petróleos Delta’s website, the company already operates a network of more than 120 service stations in the country. Shell reportedly owns 25 service stations and there are a further 43 service stations which operate under franchise using the Shell brand. (October 20, 2010)