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COMPANY NEWS: Shell offers $7.4 billion for Shell Canada stake

02/26/2007
Royal Dutch Shell PLC offered $7.4 billion to shareholders in its Shell Canada Ltd. subsidiary for the 22% minority stake it does not already own. The offer is a 12.5% increase on the bid it made last year (OGJ Online, Oct. 23, 2006).In other recent company news: BP PLC will exit the UK refinery business by selling its 172,000 b/d Coryton refinery to Petroplus Holdings AG for $1.4 billion so that it can concentrate on developing its other European refineries instead. Tesoro Corp. agreed to buy the 100,000 b/cd Wilmington refinery south of Los Angeles and its products terminal from Shell Oil Products US for $1.63 billion, plus the value of oil inventory at closing. The transaction also inc...
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