Thu 18 Dec 2014 10:19

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.


Container ship UNI-ASSURE Panama. Green fuel producers urge IMO to adopt Net-Zero Framework with e-fuel incentives  

Twenty companies call for policy certainty ahead of extraordinary IMO session this week.

Illustration of eMethanol Production Process by Liquid Wind. Swedish funding secured for e-methanol plant pre-engineering  

Swedish Energy Agency backs Örnsköldsvik e-fuel facility through green transition programme.

Render of Petroineos’ new bunker vessel for southern France. Petroineos orders two new bunker vessels for southern France operations  

Vessels will handle conventional and low-carbon fuels, including biofuels and e-methanol, from 2028.

CEO, Fredrik Witte and CFO, Mette Rokne Hanestad. Corvus Energy raises $60m from consortium for maritime battery expansion  

Norwegian energy storage supplier secures growth capital to accelerate zero-emission shipping solutions.

Indian Register of Shipping hosts at LISW 2025. Shipping industry warned nuclear power is essential to meet 2050 net zero targets  

Experts say government backing is needed for nuclear investment.

Rendering of LNG bunkering vessel Avenir TBN. ExxonMobil enters LNG bunkering with two vessels planned for 2027  

Energy company to charter vessels from Avenir LNG and Evalend Shipping for marine fuel operations.

Logos of international maritime associations supporting IMO Net Zero Framework. Shipping associations back IMO Net-Zero Framework ahead of key vote  

Seven international associations urge governments to adopt comprehensive decarbonisation rules at IMO meeting.

Concept illustration of biofuel and renewable energy production. Study claims biofuels emit 16% more CO2 than fossil fuels they replace  

Transport & Environment report challenges biofuels as climate solution ahead of COP30.

Rendering of Green Ammonia FPSO. ABB to supply automation systems for floating green ammonia production vessel  

Technology firm signs agreement with SwitcH2 for Portuguese offshore facility producing 243,000 tonnes annually.

VPS launches VeriSphere digital platform. VPS launches Verisphere digital platform to streamline marine fuel decarbonisation tools  

New ecosystem connects multiple maritime emissions solutions through single user interface.