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Indiaexportnews.com

Shell completed the sale

  10.12.2008    

As part of an ongoing strategy of portfolio management, Shell Petroleum NV (Shell) has successfully completed the sale of its 50% shareholding in Refineria Dominicana de Petroleo, S.A. (REFIDOMSA), for a total value of $110 million, to the Government of the Dominican Republic, who is now the sole owner of the refinery. This concludes a share purchase agreement signed on 5 August 2008. 
The REFIDOMSA refinery was commissioned in January 1973. With a processing capacity of some 34,000 barrels per day, it is the primary petroleum products refinery in the Dominican Republic and, along with its import terminal, supplies most of the fuel requirements in the country.
This decision to sell the shareholding is part of Shell's active portfolio management to realise value for shareholders, and to refocus the downstream portfolio.
Shell will continue to serve its customers in the Dominican Republic in a range of businesses including Retail, Lubricants and Commercial marketing.


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