Sign up
Log in Sign up
Mon 6 Dec 2010, 16:42 GMT

WFS buys Shell's downstream businesses in Gibraltar


World Fuel Services acquisition includes Shell's bunkering operations in Gibraltar.

World Fuel Services has purchased Shell's downstream businesses in Gibraltar.

The deal, which is said to have been completed on December 1st, includes Shell's bunkering operations, retail service stations, commercial fuels and lubricants operations and Shell’s 50 percent stake in the aviation joint venture Intoplane Services Gibraltar Ltd..

World Fuel Services will operate in Gibraltar under the name Gib Oil Ltd.. The company will sell Shell branded lubricants and supply marine products to deep draft water marine vessels and yachts.

Earlier this year Shell announced that it was seeking buyers for its Gibraltar business. The oil major's plan to push ahead with the sale of its fuel and retail assets has come at a time when the industry trend has been to focus on more lucrative upsteam operations.

In May, Shell reached an agreement with Aegean Marine Petroleum Network Inc. for the sale of its Las Palmas terminal. The facility includes a lubricants plant, dedicated in-land storage facilities totalling approximately 65,000 cubic meters in capacity as well as on-site blending facilities to sell all grades of fuel oils and distillates.

Vitol Group confirmed in July that it was in exclusive negotiations with Shell Oil Products Africa for the potential acquisition of equity in their downstream businesses in 19 countries in Africa. The scope of the negotiations included Shell’s downstream businesses (Retail, Commercial Fuels, Lubricants, Liquefied Petroleum Gas (LPG), Bitumen, Aviation and Marine) in Morocco, Tunisia, Egypt (excluding lubricants), Cote d’Ivoire, Burkina Faso, Ghana, Togo, Senegal, Mali, Guinea, Cape Verde, Kenya, Uganda, Tanzania, Botswana (excluding LPG), Namibia, Madagascar, Mauritius and La Reunion.

In March 2010, Shell New Zealand agreed to sell its distribution and retail businesses and a 17.1% interest in the New Zealand Refining Company.

Contact details for Gib Oil have been provided below:

Gib Oil Ltd.
Tel: + 350 200 03400
Fax: + 350 200 75998
E-mail: info@giboil.com
Website: www.giboil.com

Western Arm
North Mole
P.O. Box 231
Gibraltar

Deal   Vitol   Gibraltar  Gibraltar (GI) 
Navios Turquoise vessel. Navios Partners takes delivery of second LNG- and methanol-ready boxship in newbuilding series  

Handover of 7,900-TEU Navios Turquoise follows delivery of sister ship Navios Cyan in May.
Yang Ming and Hanwha Ocean contract signing ceremony. Yang Ming orders six 13,000-TEU LNG dual-fuel vessels from Hanwha Ocean  

Taiwanese carrier expands green fleet with ammonia-ready newbuilds due for delivery by 2029.
AiP award ceremony for 12,500-cbm LNG bunker vessel design. LR awards approval in principle to Chinese yard for 12,500-cbm LNG bunker vessel design  

Lloyd’s Register validates new LNG bunkering vessel concept by CSSC Huangpu Wenchong at SMM 2026.
Santiago I vessel. Marflet Marine becomes first Spanish merchant fleet owner to operate wind-assisted suction sails  

Spanish chemical tanker operator installs bound4blue eSAILs, targeting 10–15% energy savings.
Teunis Visser, IBIA. IBIA appoints veteran fuel industry trainer Teunis Visser as advisor  

Association brings on board specialist with nearly 40 years of oil, gas and bunker sector experience.
AiP award ceremony for a 114,000-DWT tri-fuel-ready tanker concept. Lloyd’s Register and MARIC unveil tri-fuel-ready tanker concept at SMM 2026  

New 114,000-DWT tanker design offers conversion readiness for LNG, methanol or ammonia.
TFG Marine mass flow meter (MFM). TFG Marine fits two more US Gulf Coast barges with certified mass flow meters  

TFG Marine expands its mass flow meter rollout on the US Gulf Coast, adding ISO 22192 certification to two supply barges.
Hercules Vanessa vessel. HTM’s Hercules Vanessa begins maiden voyage as Ultra-Spec tanker series expands  

Vessel is the latest addition to Hercules Tanker Management’s 10-ship next-generation fleet renewal programme.
Steel-cutting ceremony for TRAnsverse 2600e vessels. Cochin Shipyard begins construction of Svitzer’s battery-electric tugs in India  

Four TRAnsverse 2600e vessels are claimed to be among the most advanced green tugs under construction globally.
TT-Line Green Ship 2.0 illustration. MacGregor wins ro-ro equipment contract for TT-Line’s battery-hybrid LNG ferries  

Company to supply cargo handling systems for two new LNG-powered ferries destined for Baltic Sea routes.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG / LBM / LBG Biofuel Biogas Biomethanol CBM Dual-fuel E-fuel E-methane / e-NG E-methanol Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind



 Recommended