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 Read

No-frills coats set a trend for designer viruses

26 August 2014 Research

news image

An artificial protein that self-assembles around and protects DNA could be ideal for gene therapy, nanomachines and synthetic...

History of King Richard III written in his teeth

18 August 2014 Research

news image

Chemical analysis of isotope signatures in monarch's remains provide insight into his life

Most Commented

The energy to fight injustice

23 July 2014 Comments

news image

Giving the world carbon-free energy means putting nuclear energy back on the agenda, says James Hansen

Next Mars rover will make oxygen from CO2

4 August 2014 News and Analysis

news image

Mars 2020 will set Nasa’s space exploration on a self-sufficiency course