OSLO, Dec 3 (Reuters) - Norway's Statoil has purchased a 21percent stake in its Mongstad refinery from Royal Dutch Shell and sold its 10 percent stake in the Pernis refinery inthe Netherlands to Shell, it said on Tuesday.
"The agreement to have joint ownership in the two refineriesmade commercial sense when it was entered into, and theagreement has served the two companies well over the years,"Statoil said.
"However, both companies have now concluded that jointownership no longer gives added value and that it is best tomake a clean break," it added.
After the deal Statoil will fully own the Mongstad plantwhile Shell will have 100 percent of the Pernis refinery.
Financial details were not disclosed.