Shell sells in Chile as Exxon divests in Central America
Royal Dutch Shell is set to divest most of its Chilean downstream operations, while ExxonMobil is selling Central American assets.
Shell's deal, worth $614m, will see local oil company Quiñenco take on the sale of the oil major's refining and distribution activities across Chile as part of Shell's continued strategy to consolidate its downstream activities. The sale involves all of Shell's retail, chemicals, bitumen and commercial fuel operations along with the distribution network in the country.
Part of the deal, although under a separate agreement, sees Quiñenco become a Shell Macro Distributor to market, sell and distribute Shell lubes nationally and provide service delivery to Shell Marine Products international customers in Chile.
Meanwhile, ExxonMobil will sell its oil marketing and supply businesses, as well as some refinery assets across six Central American countries, to Puma Energy Beheer BV. Puma, a subsidiary of Dutch-based Trafigura Group, will take over a refinery in Nicaragua and a 65% stake in El Salvador's RASA refinery.
The deal, for an undisclosed sum, will also see Puma operating 290 fuel stations, eight storage terminals, four aviation fuel supply and two marine fuel supply operations in Belize, Guatemala, Honduras and Panama.
