Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/shell-to-sell-its-shareholding-in-the-shell-refini.shtmlShell to sell its shareholding in the Shell Refining Company in Malaysia
Shell has reached a conditional agreement with Malaysian Hengyuan International Limited (MHIL) for the sale of its 51% shareholding in the Shell Refining Company (SRC)
Edit page New page Hide edit links
Shell has reached a conditional agreement with Malaysian Hengyuan International Limited (MHIL) for the sale of its 51% shareholding in the Shell Refining Company (SRC) in Malaysia for $66.3 million.
It is MHIL's intention for SRC to invest in the upgrades needed to meet the Euro 4M and Euro 5 requirements. The transaction is expected to complete in 2016, subject to obtaining regulatory approval.
Shell Malaysia Trading will ensure security of supply to its retail and commercial customers in Malaysia and honour other existing commitments through an existing comprehensive supply strategy that includes a long term offtake from Shell Refining Company.
