Refining & Processing: Shell agrees to sale of shareholding in Ceska Rafinerska

Source:Shell

Shell signed an agreement for the sale of its 16.3 percent shareholding in Ceska Rafinerska to Unipetrol for the sum of $27.2 million.

Today, Shell signed an agreement for the sale of its 16.3 percent shareholding in Ceska Rafinerska to Unipetrol for the sum of $27.2 million. Ceska Rafinerska includes the Kralupy refinery and the Litvinov refinery, with a combined capacity of 177,000 barrels per day. Shell hopes to complete the sale in 2014.

Shell’s Retail, Lubricants and Aviation businesses are not impacted by this announcement. Shell has established long-term supply agreements to serve Shell’s retained businesses and to ensure that we will be able to continue serving our customers with high quality fuels and to the highest standards. Shell retains a strong Downstream presence in the Czech Republic.

The sale is consistent with Shell’s strategy to concentrate its global Downstream footprint and businesses where it can be most competitive. Recent examples include the sale of refineries in the UK and Germany.

Shell is committed to conducting its business in the Czech Republic with safety a priority.

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