Mercuria and Vitol in the run for Raízen’s $1bn Argentinian business
Published on: Nov 28, 2025
The sale includes the Dock Sud refinery near Buenos Aires and a network of about 700 Shell stations.
Energy trading giants Mercuria Energy Group and Vitol Group are among the leading bidders for Raízen SA’s downstream assets in Argentina, reported Bloomberg. The sale includes the Dock Sud refinery near Buenos Aires and a network of about 700 Shell-branded fuel stations, which together account for roughly 19% of the country’s gasoline and diesel sales. The deal could exceed $1 billion, with one source valuing the assets at up to $1.6 billion.
The two firms are seeking to expand their refining footprint as President Javier Milei accelerates deregulation of Argentina’s energy sector. Since taking office, Milei has scrapped price controls on crude and fuel, opening the door for foreign investment.
Raízen, a joint venture between Shell Plc and Brazil’s Cosan SA, bought the assets from Shell in 2018 for $950 million. Its Dock Sud refinery processes 101,000 barrels per day, making it Argentina’s third-largest.
The bidding underscores how commodity traders are moving downstream to secure margins after the energy market upheaval triggered by Russia’s invasion of Ukraine.
