Shell responds to rumored sale of Malaysian service stations
Published on: May 12, 2024
The company has announced it remains committed to the country’s mobility business amidst rumors of talks with Saudi Aramco to complete the deal.
Shell has published an official statement regarding a rumor about the company being in talks to sell its service station business in Malaysia.
In the announcement, the firm assured that it remains “committed to the mobility business in the country.” The Reuters news agency reported on Monday 6th that the energy giant has been in talks since 2023 with Saudi Aramco, Saudi Arabia's state-owned energy firm, to complete the sale.
Shell currently operates Malaysia’s second largest fuel retail chain, encompassing close to 950 sites across the country, according to its official website. According to reports, the transaction could be worth up to $1 billion.
Apart from service stations, Shell’s operations in Malaysia include selling industrial lubricants, crude oil production and natural gas offshore of Sarawak and Sabah states. In addition, is a joint venture partner in two liquefied natural gas (LNG) ventures.
