Global oil company Shell, which manufactures a range of oil products including Shell Tellus S2 M 32, has recently completed the sale of various downstream businesses in Norway.
Shell sold its supply and distribution, logistics, retail and commercial fuels businesses in Norway to St1 Nordic. However, the Shell name will still be extremely visible in Norway due to a retail brand licence business the company has put in place, which will see Shell lubricants and fuels sold in 404 retails sites across the country. These retail sites will, however, now be owned by St1.
As well as transferring assets to St1 Nordic, Shell has also partnered with the company to create Aviation Fuelling Services Norway AS, which will see the companies sell aviation fuel across Norway.
The completion of this sale follows on the heels of a sales agreement, which was announced back in 2014, and which was recently approved by the Norwegian competition authority.
The sale is part of Shell’s current strategy, which has seen the company make moves to downstream its footprint on markets where it can be at the top of its game competitively speaking.
Norway is currently an important country for Shell, which is committed to maintaining a presence there for the foreseeable future, and many of the company’s remaining businesses in the area will continue to trade in the Scandinavian nation.
It is not known how much St1 paid to Shell in this sale, as the price is not being disclosed for commercial confidentiality reasons.