Shell Geelong Refinery for Sale

MarineLink.com
Thursday, April 04, 2013
Photo: Shell

Shell Australia announced its Geelong Refinery is for sale.

The proposed sale of the 120 kb/d refinery is in line with Shell’s global strategy to concentrate investment on large scale sites, such as the company’s world scale Pulau Bukom refinery in Singapore. The announcement underpins Shell’s local strategy to grow its retail and bulk fuels business, along with terminals and pipelines.

Shell recognizes that other parties, with a different portfolio, may have a different strategy and want to enter or expand in the Australian refining market. Shell will seek a buyer who will show due care for employees, provide reliable supply for the company and its customers, and run the facility safely with respect for the environment and the Geelong community.

The company’s efforts are towards achieving a successful sale. There are other options available if a sale with agreeable terms and conditions cannot be reached - this could include converting the site to an import terminal.

Shell Australia’s downstream vice-president Andrew Smith acknowledged the process will create a period of uncertainty for employees. “I understand this announcement will be difficult for refinery employees, but Shell will support them through this period of uncertainty,” Mr Smith said. “Refinery employees in Geelong have made a significant contribution to both Shell and the local community over many years, supporting the economy in south east Australia.”

The company committed to make an announcement of any successful buyer as soon as it could, and aimed to conclude the sales process by the end of 2014.

Shell has operated in Australia for more than 110 years. It supplies fuel to around 900 Shell branded service stations across the nation – along with aviation fuel, marine fuel, chemicals, bitumen and lubricants to a wide range of customers.

www.shell.com
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

Energy

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia El├ętrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

Premier Oil and Rockhopper Abandon Ocean Rig Contract

Two of the major British players in Falkland Islands offshore oil development, Premier Oil and Rockhopper Exploration, cancelled a joint venture contract with Ocean Rig UDW.

US Oil Drillers Cut Rigs to Least in 6 Years

U.S. energy firms this week cut oil rigs for an eighth week in a row to the lowest levels since January 2010, data showed on Friday, as energy firms continue to

News

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia El├ętrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

N.E. Fishermen Warned of Extreme Cold, Wind Chills

The Coast Guard is urging the Massachusetts and Rhode Island fishing fleet to take caution heading into the weekend when life threatening temperatures and wind chills are forecasted.

Hapag-Lloyd Enhances Conosur Service

Hapag-Lloyd has informed about its service enhancements on the Conosur Service (South America West Coast to South America East Coast). This is being upgraded by

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1000 sec (10 req/sec)