Shell in talks on refinery sales

Friday 30 October 2009

Shell is in exclusive talks with Indian industrial group Essar on the sale of two refineries in Germany and one in Britain.

A spokesman for the Essar conglomerate confirmed the talks and said no price or time frame for a potential sale had been agreeds, Dow Jones said.

Shell is planning to divest some 15% of its global refining capacity over the next three years as part of its restructuring programme and wants to concentrate on its bigger refineries.

© DutchNews.nl

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