Shell approved for ProJet acquisition in Malaysia

Shell has received Malaysia's approval to acquire 100% of ConocoPhillips's wholly owned subsidiary Conoco Jet (Malaysia) Sdn. Bhd., which operates the ProJet retail marketing assets in Malaysia.

By OGJ editors
HOUSTON, Aug. 7 -- Royal Dutch Shell PLC has received Malaysia's approval to acquire 100% of ConocoPhillips's wholly owned subsidiary Conoco Jet (Malaysia) Sdn. Bhd., which operates the ProJet retail marketing assets in Malaysia.

The deal comprises 44 ProJet-branded retail outlets and 14 vacant land sites primarily in Kuala Lumpur, Selangor, and Johor.

The sites will be rebranded as Shell over the next 3 months, but all ProJet retail outlets will immediately begin to carry Shell fuels, said Mohzani Wahab, managing director of Shell Malaysia Trading Sdn. Bhd.

In addition to the ProJet retail stations, Shell is looking to add another 30 new stations by yearend.

With its existing stations, Shell expects to have about 900 Shell retail sites throughout Malaysia by yearend, said Mohzani.

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