Found the following extract, not to sure on Shell's "strategy" however I wouldnt have thought Senegal would extract more than 270kbod. I welcome your thoughts p.s have been a long term holder and anticipate like most on here of a positive outcome.
Essar is understood to be among the bidders for two German refineries as well as Shell's UK refinery at Stanlow , which is located in Ellesmere, Cheshire.
Stanlow is Shell's only UK refinery and has a capacity of 272,000 barrels a day, producing about a sixth of the UK's petrol.
The disposals by Shell are part of its strategy to rid itself of smaller refineries in favour of investing in large, integrated complexes, such as those in Port Arthur, Texas and Rotterdam. The package is valued at about £1.5bn ($2.4bn).
Refinery sales have been controversial because of the potential of large job losses.
Indeed, UK refinery workers have in the past month threatened strike action over pay and other issues .
In the hope of avoiding potential criticism, Shell said: "If a deal is pursued, the refinery would be sold as a going concern. If no deal is pursued, Stanlow will be retained in the Shell portfolio. There are no plans to close the refinery or associated local marketing businesses."
The two German refineries in Hamburg and Heide do not come with the same assurances. They have an aggregate capacity of about 200,000 b/d and each employs about 500 workers.
Shell is also looking to sell its Montreal East refinery in Canada, which has a capacity of 121,000 b/d.
FAR Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
