As per The Australian Financial Review, European energy giants
Royal Dutch Shell plc
) are planning to divest their gasoline stations and refineries
down under. The plan reflects the willingness of the companies to
sell downstream properties and to invest the cash proceeds in
core upstream operations.
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Shell is negotiating with an undisclosed leading private equity
enterprise, along with a consortium, to divest it's roughly $2.69
billion worth of 900 gasoline stations and refinery in
Similarly, BP is evaluating the sale of its total $2.69 billion
worth of gasoline stations and refineries located in Queensland
and Western Australia.
The leading Australian business and finance newspaper reveals
that U.S integrated energy company,
), may also sell its Australian service stations following in the
footsteps of Shell and BP.
U.K.-based Shell is the largest oil company in Europe and has
worldwide operations. It is involved in various activities
related to oil and natural gas, chemicals, power generation,
renewable energy resources, and other energy related businesses.
London, England-based BP is a leading integrated energy firm,
providing its customers with fuel for transportation, energy for
heat and light, retail services and petrochemical products.
Shell currently holds a Zacks Rank #4 (Sell), implying that it is
expected to underperform the broader U.S. equity market over the
next one to three months, while BP carries a Zacks Rank #3
(Hold), signifying that it is expected to perform in line with
the broader U.S. equity market over the next one to three months.
Meanwhile, one can look at a better-ranked integrated energy
). The stock sports a Zacks Rank #2 (Buy).