Shell has entered a binding agreement to sell off its Australian downstream business to Dutch-owned multinational Vitol for about A$2.9 billion (US$2.6 billion).
The sale includes Shell's Geelong Refinery and 870-site retail business, as well as its bulk fuels, bitumen, chemicals and part of its lubricants businesses but excludes its Aviation business and its lube oil blending and grease plants in Brisbane, which will be converted to bulk storage and distribution facilities.
Shell
