Shell mulls bids for Bakersfield refinery

Sept. 29, 2004
Shell Oil Products US, which said it would continue to operate its Bakersfield refinery until Mar. 31, 2005, is evaluating bids from companies interested in purchasing the facility.

By OGJ editors

HOUSTON, Sept. 29 -- Shell Oil Products US, which said it would continue to operate its Bakersfield refinery until Mar. 31, 2005, is evaluating bids from companies interested in purchasing the facility.

Shell proposes selling it as an operating refinery and currently is holding discussions with 20 companies, a number of which have provided bids and purchase conditions. Shell is evaluating these and will develop a short list for further discussions. This process is now closed to new entrants.

Shell also will lease the products terminal and tanks adjacent to the refinery to the refinery purchaser under a long-term agreement, assuring the terminal's continued operation.