SYDNEY Jan 7 Royal Dutch Shell and BP
are considering the sale of refineries and petrol
stations in Australia to free up cash, the Australian Financial
Review reported on Tuesday.
Royal Dutch Shell are in talks with two parties - an unnamed
large private equity firm and a consortium including investment
bank Macquarie Group - over the A$3 billion ($2.69
billion) sale of 900 petrol stations and its refinery in
Geelong, the Australian Financial Review said, citing sources,
who described the talks as "preliminary".
BP is examining a A$3 billion sale of its petrol stations
and refineries in Queensland and Western Australia, the
Australian Financial review reported, citing no sources.
The Australian Financial Review said both Shell and BP would
use the cash generated for their energy production business
The Australian Financial Review also reported market
speculation that Chevron may follow BP and Shell and
consider selling out of service stations in Australia.