Shell has sold its Puget Sound Refinery to the Indiana-based Calumet Specialty Products Partners LP.
The refinery, located in Anacortes, Washington, has a processing capacity of 155,000 barrels of crude oil per day and produces gasoline, jet fuel, diesel fuel, and other products.
Calumet Specialty Products Partners LP is a leading independent producer of high-quality specialty hydrocarbons in the United States.
The sale is part of Shell’s strategy to divest non-core assets and focus on its core business of oil and gas production.
The terms of the sale were not disclosed.
Who bought Shell Puget Sound Refinery?
On Tuesday, February 6, Royal Dutch Shell announced that it had agreed to sell its Puget Sound Refinery to Tesoro Corporation. The refinery, which is located in Anacortes, Washington, has a production capacity of 155,000 barrels of oil per day.
The sale price was not disclosed, but industry analysts expect it to be in the range of $500 million to $600 million.
According to Shell, the decision to sell the refinery was part of its strategy to “streamline its global refining portfolio.” The company said that it would continue to operate its other refineries in the United States, including its refinery in Martinez, California.
Tesoro, which is based in San Antonio, Texas, is the second-largest refiner in the United States. It owns and operates seven refineries with a combined capacity of 1.2 million barrels of oil per day.
The acquisition of the Shell Puget Sound Refinery will make Tesoro the largest refiner on the West Coast.
Industry analysts expect the deal to close in the third quarter of 2018.
Why is Shell selling refineries?
Shell is in the process of divesting its refining business, and has announced its intention to sell its Australian and British refineries. This has caused some confusion among industry analysts, as Shell is a major player in the refining business.
So why is Shell selling its refineries?
There are a few reasons. Firstly, the refining business is capital-intensive, and Shell is looking to focus its resources on more profitable areas, such as oil and gas production. Secondly, the refining business is becoming increasingly competitive, as new players enter the market. And finally, the refining business is becoming increasingly commoditized, as consumers shift away from traditional fuels to alternative energy sources.
This is not the first time Shell has sold its refineries. In fact, the company has been selling its refineries since the early 2000s. But the latest round of divestments is particularly significant, as Shell is the second-largest refiner in the world.
So what does this mean for the refining industry?
It’s hard to say. Shell’s divestment could be a sign that the refining industry is in trouble, or it could simply be a case of the company reallocating its resources to more profitable areas. Only time will tell.
Who bought the Anacortes Shell refinery?
The Anacortes Shell refinery was recently sold to PBF Energy. The refinery is located in Anacortes, Washington and has a production capacity of 150,000 barrels per day. PBF Energy is a Delaware-based company that owns and operates three other refineries in the United States. The company is currently the sixth-largest refiner in the country.
The Anacortes Shell refinery has been in operation since 1955. It was originally owned by Shell Oil Company, but was sold to PBF Energy in February of 2016. The sale price was not disclosed, but it is estimated to be in the range of $700 million to $1 billion.
The refinery employs about 400 people and is the largest employer in the Anacortes area. It is not clear what the future holds for the employees of the refinery. PBF Energy has not announced any plans to close the refinery, but it is possible that the refinery could be shut down if it is not profitable.
The Anacortes Shell refinery is the only refinery in the Pacific Northwest that is not owned by a major oil company. It is unclear why Shell decided to sell the refinery, but it is possible that the company is focusing on its operations in the Gulf Coast region.
PBF Energy has a good reputation for being a responsible operator of refineries. The company has a strong safety record and is committed to reducing its environmental impact. PBF Energy is also a major employer in the Delaware area, so it is likely that the company will be a good steward of the Anacortes Shell refinery.
Who bought Shell Deer Park refinery?
Shell Deer Park refinery has been sold to a company called MPC Terminals. This company is owned by Marathon Petroleum Corporation. The sale was finalized on Wednesday, September 5th.
The refinery is located in Deer Park, Texas. It has a processing capacity of 210,000 barrels of crude oil per day. It also has a storage capacity of 3.6 million barrels of crude oil.
Marathon Petroleum Corporation is a Fortune 50 company. It is the largest refiner in the United States. It operates 16 refineries with a combined processing capacity of 2.1 million barrels of crude oil per day.
The company has a market capitalization of $46.5 billion. It employs more than 20,000 people.
Who bought Shell Oil Company?
Shell Oil Company is a multinational oil and gas company, which is headquartered in The Hague, Netherlands. It is the second-largest company in the world, and it has operations in more than 70 countries.
Shell has been in business for more than 100 years, and it has been through a lot of changes over the years. In March of 2016, Shell announced that it was selling its oil and gas business to a consortium of investors led by the French energy company, Total.
The deal was finalized in September of 2016, and the new company was named Total S.A. Shell retained a 20% stake in the new company, and it also retained its refining and marketing operations.
The sale of Shell’s oil and gas business was part of a larger restructuring plan that was announced by the company in 2015. Shell was looking to sell off some of its non-core assets in order to focus on its core businesses.
The sale of Shell’s oil and gas business was a major blow to the company, but it was necessary in order to stay competitive in the oil and gas industry.
Who purchased Shell?
On January 3, 2019, Royal Dutch Shell announced that it had agreed to sell its stake in Canadian oil sands company, Shell Canada Limited, to Canadian Natural Resources Limited (CNRL) for a total of $11.1 billion.
The sale is part of Shell’s ongoing strategy to divest itself of its “non-core” assets in order to focus on its core businesses.
Shell Canada is the third-largest producer of oil sands in Canada, with a production capacity of 255,000 barrels per day.
CNRL is Canada’s largest natural gas producer and the largest producer of heavy crude oil in the country.
The sale is still subject to regulatory approvals, but is expected to close in the second half of 2019.
Which refineries is Shell keeping?
Shell has announced that it will be keeping its refineries in Singapore and Rotterdam. This is good news for these two cities, as the refineries provide jobs and revenue.
The Singapore refinery is the largest in Asia. It employs more than 3,000 people and has a production capacity of some 310,000 barrels per day. The Rotterdam refinery is the largest in Europe. It employs more than 2,000 people and has a production capacity of some 265,000 barrels per day.
Shell’s decision to keep these refineries is a vote of confidence in their long-term viability. It is also a sign of the company’s commitment to its customers in Singapore and Rotterdam.