China Information

Thursday, January 18, 2007

Shell sells its refineries in France and switches to invest in the Chinese market

It is reported that Shell Group recently said that it is considering selling its two refineries and a petrochemical plant which daily handles 300,000 barrels of petroleum in France. This plan is expected to bring Shell Group 4 billion euros of income. In the future Shell will only keep commercial activities for Shell's petrochemical products in France, such as Shell lubricant, gas stations and the Group's Butagaz liquefied natural gas.
The Group's spokesman in France said several interested buyers had approached Shell for the acquisition of the refineries. In addition, Shell's intended sales includes a few refineries in the Caribbean area. The factories for sale are important enterprises in the markets of these countries and regions.
Meanwhile, Shell Group has started to implement a major investment plan in Asia, especially its investment in China.
Last year Shell acquired two companies, and one of them is a petrochemical enterprise.

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