BP, Shell mull over asset sale

 In Australia, NewZealand
Australia’s $50 billion petrol industry is set for its biggest shake-up in decades, with energy majors Royal Dutch Shell and BP considering the sale of refineries and petrol stations in order to free up cash for their core energy production businesses, reports The Australian Financial Review.
It is understood Shell is in talks with at least two parties – a large private equity firm and a consortium including investment bank Macquarie Group – over the $3 billion sale of 900 petrol ­stations and its refinery in Geelong.  Sydney Morning Herald – Read more…

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