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Shell completes sale of $1.2bn Martinez Refinery

Shell completes sale of $1.2bn Martinez Refinery

 

Shell Oil Products US, a subsidiary of Royal Dutch Shell, has completed the sale of Martinez Refinery in California to PBF Holding Company LLC (PBF) for $1.2 billion.

The sale transaction includes Shell’s refinery, truck rack, and terminal in California as well as crude oil supply and product offtake agreements, according to a recent statement.

However, Shell’s associated branded fuel businesses, aviation terminal, and catalysts business in the area are not included in the deal.

Under the agreement, “Shell and PBF entered into crude supply and product offtake agreements to continue to supply Shell branded businesses ensuring that Shell customers will continue to have access to quality Shell branded fuels.”

Source: Mubasher

Published: 03-02-2020

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