Shell pulls out of chemicals in Australia


Energy giant Shell is selling off all of its Australian ‘downstream’ businesses – including bulk fuels, bitumen, chemicals and part of its lubricants segment – to energy and commodity trader Vitol for $2.6 billion (£1.6 billion).

The deal includes Shell’s refinery at Geelong, but excludes its aviation fuel division as well as its lube oil blending and grease plants in Brisbane, which will be converted to bulk storage and distribution facilities. Shell expects Vitol to retain the majority of staff employed at the transferred plants.

Shell will continue its ‘upstream’ exploration and production activities in Australia.


Related Content

Business roundup

30 June 2011 Business

news image

Industry news, July 2011

Business roundup

27 January 2012 Business

news image

Industry news, February 2012

Most Commented

Countries ink Paris climate change agreement

27 April 2016 News and Analysis

news image

Nearly 200 countries signed the global climate treaty that aims to limit temperature rises to ‘well below’ 2°C

Mixed outlook for ethanol–petrol blends

28 April 2016 Research

news image

London study says incorporating biofuels into petrol supplies could increase acetaldehyde levels in the air