Shell Oil Products Africa is reviewing ownership options for its downstream businesses in 21 countries in Africa.
The review will cover Shell’s retail, commercial fuels, lubricants, liquefied petroleum gas, bitumen, aviation and marine businesses in Morocco, Algeria, Tunisia and Egypt, among others, but not in South Africa.
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Shell Oil Products Africa executive vice-president Xavier le Mintier said the decision is part of Shell’s drive to refocus its global downstream footprint into fewer, larger markets.
“Early indications suggest there are a number of potential buyers interested in acquiring the businesses as going concerns and we will now enter into a round of negotiations,” Mintier said.
Royal Dutch Shell downstream director Mark Williams said that Shell’s downstream asset sales will continue through planned exits from 15% of its worldwide refining capacity and 35% of its current retail markets, which equates to about 5% of Shell-branded retail sites worldwide.
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By GlobalData
