Shell reviews downstream assets in Africa
Royal Dutch Shell PLC is reviewing its downstream businesses in 21 African countries, saying it hopes to sell them as going concerns.
By OGJ editors
HOUSTON, Apr. 5 -- Royal Dutch Shell PLC is reviewing its downstream businesses in 21 African countries, saying it hopes to sell them as going concerns.
It has excluded from the review its fuels, lubricants, and refining operations in South Africa as well as its African exploration and production and LNG interests and most of its trading activities in the continent.
Under review are retail, commercial fuels, lubricants (excluding Egypt), LPG, bitumen, aviation, and marine businesses in Morocco, Algeria, Tunisia, Egypt, Ivory Coast, Burkina Faso, Ghana, Togo, Senegal, Mali, Guinea, Cape Verde, Kenya, Uganda, Tanzania, Botswana, Namibia, Madagascar, Mauritius, and La Reunion.
Shell last month said it would cut worldwide refining capacity by 15% and retail operations by 35% and has announced plans to sell its downstream businesses in New Zealand (OGJ Online, Mar. 29, 2010).