Saw that Shell is selling the Convent refinery. Is the plan to exit downstream? Are employees going with the asset, or will there be a round of internal postings?
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What’s the latest rumors?
agreed on the selling of Deer Park refinery/chem.. I think it will sell rather quick being on a major freeway, main rail road line right through the middle of the plant, plus the ship channel. SELL IT!
It is not rocket science to see how RDS has been behaving in North America. Selling all but a handful of refineries that have chemical capabilities. The last few refineries are up for sale. This has been the goal of RDS for many years to exit downstream North America with the exceptions of a few niche production facilities. Downstream fuels in the U.S. is a very precarious place to be working. Get out before your thrown out.
They are going to keep only those refineries with attached chemical plants, so in N. America only Deer Park, Norco and Scotford..... Every other refinery in North America is up for sale. This sounds brain dead to me, but thats what geniuses in Amsterdam are thinking.
For anybody paying attention RDS they have been selling NA downstream assets across the continent for +15 years. From coast to coast RDS has been on the move to exit NA downstream. The refinery sales are down to just a handful now. The branded fuel outlets have been slowly converted to licensing agreements with the exceptions including Puget Sound and Convent that supply fuel to the branded outlets. RDS made a decision 15 years to exit NA downstream and is now in the final phases of that goal. They have much different fish to fry. Never trust the Dutch. They will do anything to get what they want. I have seen so many be just a pawn in their game that plays around with the lives of real people. Grow a brain, get out.
The employees with the exception of a few expats, refinery manager will go with the sale to whoever the new buyer is. In the current environment I do not see buyers lined up.
I use to work for Albian in Canada. If it is anything like what happened here, which I am pretty sure it will be, the employees go with the refinery. No new company will be trying to hire all new staff for an existing asset.
Shell has Puget Sound, Convent, Mobile and Sarnia for sale. They have managed to sell Martinez to PBF. They also own Geismar, Norco, Deer Park, and Scotford in North America.
Internationally Shell has a refinery in Denmark for sale named Fredericka.
It is difficult selling refineries so dont be suprised if these facilities take a while to sell. Sarnia has been for sale for 3 years and still no buyer.
Shell is exiting refining. Only refinery left. In the USA now is Deerpark. That will be sold soon too. Good luck to all. Sad times.