Shell completes the sale of Shell refining Company in malaysia
Shell has completed the sale of its 51 shareholding within the Shell refining Company (Federation of Malaya) Berhad (SRC) in malaysia, which has the 125,000 barrel per day refinery in Port Dickson, to malaysia Hengyuan International limited (MHIL) for $66.3 million.
Shell is that the leading retail fuels and lubricants supplier in malaysia, that remains an important market for the company. Shell can maintain offer to its retail and commercial customers, and can honour all current commercial arrangements through existing comprehensive offer agreements in the country.
This divestment is consistent with Shell’s strategy to concentrate its global downstream operations in areas wherever it can be most competitive.