Repsol YPF buys Shell's Portugal logistics, marketing assets

By OGJ editors

HOUSTON, July 12 -- Madrid-based Repsol YPF has signed an agreement to purchase the marketing and logistics assets of Royal Dutch/Shell Group in Portugal, excluding its lubricants and LPG marketing businesses. The purchase includes 303 service stations, which Repsol YPF said would increase its annual petroleum product sales by 1.85 million cu m, storage terminals, a 15% stake in Compañía Logística de Combustibles, and direct sales for fuels and bitumen and marine fuels.

The agreement will be completed once regulatory clearance has been obtained.

Repsol YPF said the transaction quadruples the number of its service stations in Portugal to 417, giving it a 19% retail market share and a 21% market share of direct petroleum product sales.

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