The sale of Shell's refinery operations in Denmark has been cancelled, according to the statement released by the company on Tuesday.
"Shell announces today [Tuesday] that the agreement it signed with Dansk Olieselskab AS (DO) in September 2016 regarding the sale of A/S Dansk Shell, which consists of the Fredericia refinery and local trading and supply activities, has terminated and the sale will not complete," the statement read.
A/S Dansk Shell, including the refinery and local trading and supply activities, will remain under Shell’s ownership and continue business as usual, the company noted, without adding any further details as to the reason the sale did not go ahead.
Shell Group’s $30 billion divestment program "remains on track" for completion in 2018, with deals worth $23 billion completed, $2 billion announced and $5 billion in advanced progress, the company concluded.
By Ebru Sengul