13 Jul 2006

Shell sells ventures in six Pacific countries

7:20 am on 13 July 2006

Royal Dutch Shell has signed a deal for the sale of its downstream and marketing businesses in selected Pacific nations.

The deals relate to Shell's aviation, marine, lubricants, commercial fuels, distribution and retail businesses and includes a network of 65 retail service stations and 12 storage and distribution depots.

The sale of its downstream business in PNG to InterOil Products Ltd continues excluding assets at the Port Moresby Jackson International Airport.

Its businesses in Fiji and Tonga will be acquired by Total France SA.

In New Caledonia, Vanuatu and French Polynesia Shell's businesses will be purchased by Albert Moux and Partners, a consortium, whose principal is Shell's current co-venturer in French Polynesia, Albert Moux.

The National reports an announcement is yet to be made about its businesses in the Cook Islands and Solomon Islands.