Shell sell Geelong Refinery in Australia

Shell to sell Geelong Refinery in Australia

6:09 AM, 4th April 2013
Shell to sell Geelong Refinery in Australia

PARIS, FRANCE: Shell Australia announced its Geelong Refinery is for sale. The proposed sale of the 120 kilo barrel per day refinery is in line with Shell’s global strategy to concentrate investment on large scale sites, such as the company’s world scale Pulau Bukom refinery in Singapore. The announcement underpins Shell’s local strategy to grow its retail and bulk fuels business, along with terminals and pipelines.

Shell’s announcement recognises that other parties, with a different portfolio, may have a different strategy and want to enter or expand in the Australian refining market. Shell will be seeking a buyer who will show due care for employees, provide reliable supply for the company and its customers, and run the facility safely with respect for the environment and the Geelong community.

The company’s efforts are towards achieving a successful sale. There are other options available if a sale with agreeable terms and conditions cannot be reached - this could include converting the site to an import terminal.

“I understand this announcement will be difficult for refinery employees, but Shell will support them through this period of uncertainty. Refinery employees in Geelong have made a significant contribution to both Shell and the local community over many years, supporting the economy in south east Australia. Shell is one of Australia’s largest private sector investors, and remains committed to its business in Australia,” said Andrew Smith, Vice-President, Downstream, Shell Australia.

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