The sale, which will cost Vitol $2.6 billion, includes Shell’s refinery in Geelong, 870 service stations, its bulk fuels and chemicals unit, and part of its lubricants business. The move comes at a time when Shell is looking to dispose of various assets as part of its strategy to change the emphasis of the company in 2014.
Other recent disinvestments by Shell include the sale of refineries across Europe in the UK, Germany, France, Norway and the Czech Republic. The firm has also offloaded its downstream businesses in Egypt, Spain, Greece, Finland and Sweden.