OSLO: The oil giant will sell its retail, commercial fuels and supply and distribution logistics businesses in Norway. Its aviation business in Norway will become a 50-50 joint venture with ST1.
The deal will have no impact on Shell’s other businesses in Norway – Shell Energy Europe, Gasnor and Upstream, and Shell lubricants will continue to be sold via a macro distributor and is consistent with Shell’s strategy to concentrate its downstream footprint on a smaller number of assets and markets where it can be most competitive.
Recent examples include the sale of refineries in the UK, Germany, France, Norway and the Czech Republic, and downstream businesses in Australia and Italy.
The arrangement is subject to regulatory approval and is expected to be completed in 2015.