Geer schreef op 3 november 2021 09:36:
SHELL COMPLETES SALE OF WASHINGTON PUGET SOUND REFINERY TO HOLLYFRONTIERwww.shell.us/media/2021-media-release...Nov 01, 2021
HOUSTON – Equilon Enterprises LLC d/b/a Shell Oil Products U.S. (Shell), a subsidiary of Royal Dutch Shell plc, has completed the sale of its Puget Sound Refinery near Anacortes, Washington to a subsidiary of HollyFrontier Corporation, an independent refiner headquartered in Texas (HollyFrontier), for $350 million in cash plus the value of the hydrocarbon inventory, subject to customary closing adjustments.
The agreement covers the sale of Shell’s Puget Sound Refinery, the on-site cogeneration facility and the associated logistics infrastructure. Shell will retain product offtake agreements to support its existing retail marketing business in the Pacific Northwest. Shell’s off-site logistics assets are excluded from the sale.
Notes to editors
-On May 4, 2021, Shell and HollyFrontier Corporation announced that they had signed a sales agreement for HollyFrontier to acquire Shell’s Puget Sound Refinery near Anacortes, Washington.
- The value attributed to the hydrocarbon inventory at closing was approximately $266 million.
- Local employees providing dedicated support to Shell’s Puget Sound Refinery were offered employment with HollyFrontier.
- Shell will maintain Shell branded businesses in the Pacific Northwest and has structured supply/offtake agreements with the new owner such that the Puget Sound Refinery will continue to support Shell’s businesses in the region.