Shell is to sell its Heide refinery and associated chemicals, bitumen and distribution infrastructure in Germany to Klesch & Company.
The refinery has a processing capacity of 90,000 barrels per day.
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Following the sale Shell will be able to concentrate investments into larger sites such as the Rhineland refinery and reduce its net refinery capacity by 15%.
Gary Klesch, owner and CEO of Klesch & Company, said the refinery will fit perfectly into its strategy of building an oil and gas platform.
