Shell sells Oz to Vitol for $2.6bn

Oliver Smith
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ROYAL Dutch Shell last night announced a $2.6bn (£1.5bn) deal to sell its Australian downstream assets, including a refinery and 870 retail sites, to energy and commodity trading firm Vitol.

“Australia remains important to Shell, but we are making tough portfolio choices to improve the company’s overall competitiveness,” said chief executive Ben van Beurden. The deal is expected to close in 2014.

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