Malaysia: Shell prepares to sell its fuel stations to Aramco – Business & Economy

The international news agency “Reuters” has claimed with reference to sources that the major petroleum products company “Shell” is in talks with Saudi Arabia’s state-owned company “Aramco” to sell its gas station business in Malaysia. , which is the second largest such network in the country.

Reuters says that if the talks are successful, a deal worth up to one billion US dollars might be reached.

According to Reuters, Shell declined to comment on the “discussion”, but said Malaysia was an important country for the company. Saudi Aramco also declined to comment.

British company Shell wholly owns regarding 950 fuel stations in the Southeast Asian nation of Malaysia, while Malaysia’s state-owned Petronas operates a large network of fuel stations.

Saudi Aramco does not have fuel stations in Malaysia, although it owns 50 percent of the 300,000 bpd refinery in Johor in a joint venture with Petronas, which sells fuel locally and for export.

Aramco operates petrol stations in Saudi Arabia and also operates fuel stations elsewhere in joint ventures with French giant Total Energies and South Korea’s S Oil Corporation.