Shell is set to enter the Sri Lankan fuel retail market later this year, following a retail brand license agreement between Shell Brands International AG and RM Parks (Private) Limited, and a product supply agreement between affiliates of Shell and RM Parks (Private) Limited.
RM Parks (Private) Limited, a partnership between the Tristar Group, a fully integrated energy logistics business, and RM Parks., Inc, a North American distributor of Shell fuels, will rebrand an existing network of 150 retail fuel stations across Sri Lanka. The contract to operate these stations was awarded for an initial period of 20 years by the Sri Lankan Ministry of Petroleum and Energy in 2023.
The collaboration aims to provide Sri Lankan consumers with access to Shell's portfolio of fuels and lubricants, along with offers in lower-emission fuels and convenience retail. The first Shell-branded stations are expected to open in the third quarter of 2024.
Eugene Mayne, Group CEO of Tristar, expressed enthusiasm about the venture, stating, “With a valuable partner such as RM Parks and by harnessing the strength of the Shell brand, the opportunities to grow our footprint in Sri Lanka are unlimited and we look forward to playing an active role in making further oil and gas investments in the country.”
Jason Callison, president of RM Parks Inc., highlighted the significance of reintroducing the Shell brand to Sri Lanka after more than 60 years, emphasising the limitless growth opportunities in the country.
István Kapitány, global executive vice president of Shell Mobility, said, "This collaboration with RM Parks and Tristar is a great example of how we are bringing Shell’s quality products and services to new markets and helping fuel retailers and entrepreneurs to grow their business through Shell brand licensing."
Shell Mobility, the world's largest mobility retailer, serves around 33 million customers daily in more than 80 markets, with around 47,000 locations worldwide. The company is also a global leader in electric vehicle (EV) charging, with approximately 55,000 public EV charge points globally and plans to expand to around 200,000 by 2030.
RM Parks (Private) Limited, as a Shell licensee, will leverage the expertise and experience of both the Tristar Group and RM Parks., Inc, to enhance the fuel retailing landscape in Sri Lanka..
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