Shell NZ has sold all its 200 retail stations . Would Shell Malaysia be thinking of doing the same thing ?
Will Shell Malaysia be thinking of a similar idea ?
Here is a piece of news which I picked up the other day . Heard that Shell New Zealand has announced it has signed an agreement to sell its downstream business in New .
The deal includes all of Shell’s downstream assets in New Zealand but does not include the company’s upstream activities in the country. As part of the agreement, Shell will sell its 17.1% shareholding in the 104,000-barrel per day refinery at Marsden Point and also its network of more than 220 retail stations.
Commenting on the announcement, Shell Downstream Director, Mark Williams said: “The decision to sell our New Zealand downstream business follows a comprehensive strategic review and fits with our drive to simplify our global downstream portfolio and concentrate on larger, integrated assets in growth markets.” Among other things , Shell NZ will be concentrating on oil exploration in NZ.
Shell remains an industry leader in New Zealand’s oil and gas exploration and production sector through its investments in Taranaki. It is the majority owner (83.75%) of the Maui gas and condensate field that has provided New Zealand with a sustained supply of natural gas since 1979. Shell also owns 50% of Kapuni, New Zealand’s oldest gas and condensate field, and is the largest joint venture partner (48%) and operator of the Pohokura field, which began production in 2006 and today meets around 40% of the country’s natural gas requirements. Shell is also the 50% owner of Shell Todd Oil Services, the operator of the Maui and Kapuni fields
I remember a few years ago Esso Malaysia has also sold all its retail stations in Sarawak to a Bintulu based timber company . For Esso they will make more money wholesaling Oil products rather than retailing it .
Looking at what is happening in New Zealand , do you think Shell Malaysia will one day consider doing the same thing too ? Just wondering .
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