Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Thu 18 Dec 2014, 10:19 GMT

Shell agrees to sell downstream assets in Norway


St1 Oy to buy Shell's retail, commercial fuels and supply and distribution logistics businesses in Norway. Aviation joint venture also agreed.

Shell has confirmed that it has reached an agreement with Finnish energy company St1 Oy for the sale of its retail, commercial fuels and supply and distribution logistics businesses in Norway. In addition, Shell's aviation business in Norway is to become a 50-50 joint venture with ST1.

The sale is subject to regulatory approval and is expected to be completed in 2015.

The transaction includes a retail brand licence agreement to ensure that Shell's brand remains highly visible in Norway and that Shell fuels and lubricants products, and the euroShell loyalty card scheme, will continue to be available to customers in the country.

Shell said the deal will have no impact on its other businesses in Norway - Shell Energy Europe (SEE), Gasnor and Upstream, and that Shell lubricants will continue to be sold via a macro distributor.

The oil major added that the sale was consistent with its strategy to concentrate its downstream footprint on a smaller number of assets and markets where it can be most competitive. Recent examples include the sale of refineries in the UK, Germany, France, Norway and the Czech Republic, and downstream businesses in Australia and Italy.

Fuel for thought: Hydrogen report cover. Lloyd's Register report examines hydrogen's potential and challenges for decarbonisation  

Classification society highlights fuel's promise alongside safety, infrastructure, and cost barriers limiting maritime adoption.
Bureau Veritas and Straits Bio-LNG sign MoU. BV Malaysia partners with Straits Bio-LNG on sustainable biomethane certification  

MoU aims to establish ISCC EU-certified biomethane production and liquefaction facility in strategic alliance.
Molgas Energy logo. Molgas becomes non-clearing member at European Energy Exchange  

Spanish energy company joins EEX as it expands European operations and strengthens shipper role.
Yiannis Diamandopoulos, Elinoil. Diamandopoulos appointed CEO of Elinoil as Aligizakis becomes chairman  

Greek marine lube supplier announces leadership changes following board meeting on 5 January.
Sustainable Marine Fuel Services webinar hosted by BV graphic. Bureau Veritas to host webinar on sustainable marine fuel transition challenges  

Classification society to address regulatory compliance, market trends, and investment strategies in February online event.
Inchcape Shipping Services logo. Inchcape to provide bunkering services from new Indonesian offices  

Port agency establishes presence in key bulk and tanker operation hubs handling 150 calls annually.
CPN launch of B100 marine biodiesel supply in Hong Kong graphic. Chimbusco Pan Nation launches B100 biodiesel supply in Hong Kong  

Bunker tanker Guo Si becomes Hong Kong's first Type II certified vessel for pure biodiesel operations.
Vox Apolonia vessel. Van Oord completes Dutch beach replenishment using 100% bio-LNG  

Dredger Vox Apolonia deposited 1 million cbm of sand at Noord-Beveland beach under Coastline Care programme.
Delivery ceremony of the Ocean Explorer vessel. Sallaum Lines takes delivery of LNG-fuelled car carrier MV Ocean Explorer  

The 200-metre vessel was built by Fujian Mawei Shipbuilding with dual-fuel propulsion systems.
Graphic of TFG Marine bunkering operations expansion in the Strait of Gibraltar. Vilma Oil Med expands Ceuta bunkering operations with biofuel capability  

TFG Marine subsidiary increases storage to 120,000 cbm and adds IMO II chemical tanker.

↑  Back to Top


 Recommended