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Shell wraps up sale of US refinery, 250 gasoline stations



AFP
WASHINGTON
Petroleumworld.com 05 14 07

Anglo-Dutch Royal Dutch Shell said Friday it had wrapped up its sale of an oil refinery, an energy terminal and 250 gasoline stations in California to US energy group Tesoro Corporation.

Texas-based Tesoro said it bought Shell's west coast assets for 1.76 billion dollars including a 213 million dollar payment for fuel stocks.

The gasoline stations will remain Shell-branded and be supplied by Tesoro's enlarged refining and marketing network.

Shell's former Los Angeles refinery processes heavy, sour crude into clean fuels for California's stringent market and has a capacity of 100,000 barrels per day.

The Anglo-Dutch energy giant said the deal was part of a strategy to streamline its US operations.

Shell operates over 13,500 branded gasoline stations across the United States. The companies announced the deal in January.

AFP 11 1929 GMT 05 07

Copyright© 2007 AFP. All Rights Reserved.

 

 

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