Shell's decision to ditch another of the Energy and Chemicals Parks that was supposedly exempt from a downstream purge raises questions over its long-term intentions for refining.
The company is repurposing its refining and chemical hubs in Europe, but these will need to generate better returns if Shell is to keep hold of them. The major says recent divestments have been dictated by discipline and performance, but the reduced downstream footprint will help cut the company's Scope 3 emissions.
News this month that Shell has finally struck a deal to sell its Singapore Energy and Chemicals Park and will divest its downstream unit in South Africa brings and end to the UK-based major’s refining operations in two big regions. Shell now processes less than half of the almost 3 million barrels per day of crude oil it refined a decade ago, and the figure will drop further given more sales are planned.
As the company moves forward with plans to “reshape” its downstream portfolio, Energy Intelligence assesses what the outlook is for its remaining refining and chemicals assets in Asia, Europe and the Americas.
Follow this link Shell Slashes Global Downstream Footprint | Energy Intelligence
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