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Shell divests refining business in Malaysia

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Shell has reached an agreement to sell its 51% stake in its Malaysian Port Dickson refinery to a subsidiary of Hengyuan Petrochemical an independent refiner in China. In this deal valued at US$66.3 million Shell has managed to achieve three favourable results that enables the long term sustainability of its other downstream business in Malaysia. Hengyuan is the first independent Chinese refiner to acquire refining business overseas and represent a new class of buyers who are waiting to spread their wings wide in the Asian refining space.

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    Shell divests refining business in Malaysia

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