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#4696276 - 03/16/18 02:29 AM Shell out of NZ after 100 years.
Silk Offline


Registered: 07/26/03
Posts: 4623
Loc: New Zealand
https://www.stuff.co.nz/business/102321635/shell-nz-assets-sold-to-austrian-oil-and-gas-explorer

Shell pulled out of retail fuel several years ago, now they are gone completely. We'll still have Shell oils though I presume.
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1987 BMW R65 - Penrite V Twin 20/50
2005 Nissan Expert - Gulf Western 10W-40
1996 Volvo T5 - Penrite HPR15 - 15W-60. Ryco syntec filter.

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#4696289 - 03/16/18 03:24 AM Re: Shell out of NZ after 100 years. [Re: Silk]
SonofJoe Offline


Registered: 07/23/16
Posts: 1052
Loc: Europe
Part of the global trend. Shell have been offloading oil refineries in Europe for several years now. Here in the UK, the huge Stanlow refining complex I used to visit got sold to the Indians in 2011 while Shellhaven & Shell Teeeside refineries died a death several years back.

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#4696599 - 03/16/18 11:16 AM Re: Shell out of NZ after 100 years. [Re: Silk]
Nyogtha Offline


Registered: 10/13/14
Posts: 2337
Loc: San Antonio, TX
More asset sales.

RDS set a global strategic focus on natural gas several years ago. Highest focus on remaining refineries are those with integrated petrochemical operations and those associated with heavy oil upgraders. Even the Shell refinery in Martinez, CA is up for sale with the West Coast having the highest refining margins in the US.

https://www.eastbaytimes.com/2017/03/24/report-sale-of-shell-martinez-refinery-progressing/

I wonder how much of the proceeds of these asset sales are related to the final costs of the Pearl GTL facility?


Edited by Nyogtha (03/16/18 11:26 AM)
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#4770064 - 05/28/18 08:19 AM Re: Shell out of NZ after 100 years. [Re: Silk]
supercity Offline


Registered: 06/12/12
Posts: 1161
Loc: Australia
Shell sold their downstream business including their refinery in Geelong (the largest in the country) a few years back.

ExxonMobil continue to operate the smallest refinery in the country and they say its sustainable.

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#4770072 - 05/28/18 08:22 AM Re: Shell out of NZ after 100 years. [Re: supercity]
4WD Offline


Registered: 09/21/10
Posts: 6569
Loc: Texas
Not that long ago this was on this site…

https://www.usatoday.com/story/money/mar...rabia/81974062/

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#4772587 - 05/30/18 06:00 PM Re: Shell out of NZ after 100 years. [Re: Silk]
PandaBear Offline


Registered: 08/05/02
Posts: 14269
Loc: Silicon Valley
Right now it is the good time to sell don't you think? The asset price is high, at the peak of a bubble, energy price is high, and the oil consumption is going down because of all the fuel economy advances, EV prices dropping, policy is friendly toward oil companies, USD is strong, etc.

Save the ammo for the crash, then buy all the cheap assets.
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