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Shell sells Australian downstream oil assets for A$2.4 bln - media

Wed, 19th Feb 2014 01:29

SYDNEY, Feb 19 (Reuters) - Royal Dutch Shell hassold its downstream Australian assets to Dutch-owned oil traderVitol and the Abu Dhabi Investment Council for aboutA$2.4 billion ($2.2 billion), The Australian Financial Reviewreported on Wednesday.

The sale would mean Australia's Macquarie Group andits partner Glencore Xstrata were not successful intheir efforts to buy the assets, the newspaper said withoutattributing sources.

Shell has been planning to sell the business, which includesa refinery, import terminals and 900 service stations, as partof a reported worldwide divestment program under CEO Ben VanBeurden, worth about $15 billion.

A Shell spokesman in Australia told Reuters he would notcomment on "speculation". A Glencore Xstrata spokesman declinedto comment.

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