Shell and BP may ditch servos to focus on exploration
TWO of Australia fuel giants are reportedly looking to sell off service stations in an effort to focus on energy exploration, but both Royal Dutch Shell and BP are happily keeping mum on the prospect.
BP and Shell together hold more than 1200 service stations across Queensland and New South Wales.
The Australian Financial Review reports Shell is in talks to offload its service stations and Victorian refinery in a deal rumoured to top $3 billion.
On Tuesday, a Shell spokeswoman told APN it would not discuss the rumour. Such an enormous sale would not be without precedent for Shell which sold its service stations in New Zealand to Greenstone, now Z Energy, for $643 million.
A BP spokesman also declined to comment, although considering the energy giant's plan to spend $168 million on its stations this year, its sale appears unlikely.