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Shell out of NZ after 100 years. #4696276
03/16/18 02:29 AM
03/16/18 02:29 AM
Joined: Jul 2003
Posts: 4,816
New Zealand
Silk Offline OP
Silk  Offline OP
Joined: Jul 2003
Posts: 4,816
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.


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.
Re: Shell out of NZ after 100 years. [Re: Silk] #4696289
03/16/18 03:24 AM
03/16/18 03:24 AM
Joined: Jul 2016
Posts: 1,171
Europe
SonofJoe Offline
SonofJoe  Offline
Joined: Jul 2016
Posts: 1,171
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.

Re: Shell out of NZ after 100 years. [Re: Silk] #4696599
03/16/18 11:16 AM
03/16/18 11:16 AM
Joined: Oct 2014
Posts: 2,433
San Antonio, TX
Nyogtha Offline
Nyogtha  Offline
Joined: Oct 2014
Posts: 2,433
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?

Last edited by Nyogtha; 03/16/18 11:26 AM.

"No matter how paranoid you are you're not paranoid enough. Tell the truth. Reach as many people as you can with it. That's your weapon." - Susanne Modeski, aka "Holly" to The Lone Gunmen
Re: Shell out of NZ after 100 years. [Re: Silk] #4770064
05/28/18 08:19 AM
05/28/18 08:19 AM
Joined: Jun 2012
Posts: 1,168
Australia
supercity Offline
supercity  Offline
Joined: Jun 2012
Posts: 1,168
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.

Re: Shell out of NZ after 100 years. [Re: supercity] #4770072
05/28/18 08:22 AM
05/28/18 08:22 AM
Joined: Sep 2010
Posts: 7,084
Texas
4WD Offline
4WD  Offline
Joined: Sep 2010
Posts: 7,084
Texas
Not that long ago this was on this site…

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

Re: Shell out of NZ after 100 years. [Re: Silk] #4772587
05/30/18 06:00 PM
05/30/18 06:00 PM
Joined: Aug 2002
Posts: 14,469
Silicon Valley
PandaBear Offline
PandaBear  Offline
Joined: Aug 2002
Posts: 14,469
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.


"You keep asking questions PandaBear and you'll end up a vegetarian like my wife" - Camu Mahubah

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