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Royal Dutch Shell to sell some Norwegian downstream business to Finnish fuel firm ST1

Royal Dutch Shell Plc today announced that it will sell some of its Norwegian downstream business to Finnish fuel firm ST1 for an undisclosed sum, as part of its plan to divest parts of its downstream portfolio.

Shell will sell its retail, commercial fuels and supply and distribution logistics businesses in Norway to ST1, while Shell's aviation business in Norway will become a 50-50 joint venture with ST1.

The sale is subject to regulatory approval and is expected to be completed in 2015.

The transaction includes a Retail Brand Licence Agreement, which will retain Shell's brand in Norway, and Shell fuels and lubricants products, and the euroShell loyalty card scheme, will continue to be available to customers in the country.

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Published on:
December 18, 2014
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