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Shell agrees $80 mln sale of remaining Danish downstream business

Thu, 15th Sep 2016 11:50

LONDON, Sept 15 (Reuters) - Royal Dutch Shell hasagreed an $80 million sale of its remaining Danish downstreambusiness, including its Fredericia refinery, to Denmark's DanskOlieselskab, the company said on Thursday.

Shell, which wants to sell $30 billion worth of assets, willcontinue a long-term agreement to provide crude oil andfeedstocks to the 70,000 barrel-a-day refinery and to offtakesome of its products, it said.

The transaction, which completes Shell's exit from Denmark'sdownstream oil and gas market after the sale of its marketingbusiness to Couche-Tard in May, includes Danish trading andsupply activities and around 240 employees in total.

The deal is expected to complete next year.

Shell has to complete divestments of $6-8 billion this yearto remain on track to reach its $30 billion target. (Reporting by Karolin Schaps; editing by Jason Neely)

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