Argentina: Shell could sell its 600 gas station network

Shell considers selling around 600 gas stations in Argentina as part of a disinvestment strategy in the South American country, reports Bloomberg.

Shell is currently looking at disinvesting in the downstream sector in Argentina, and its fuelling network, the country´s second largest, represents the best option to cash in. Potential suitors for the 600 gas stations are Grupo Luksic and Puma Energy.

The company´s downstream assets in Argentina include the large fuel station network, a refinery, a chemicals business, and other. Shell CEO Ben van Beurden said at a conference last Wednesday, that the company is reviewing its downstream assets as part of a $30 billion disinvestment plan.

Shell has a 19% market share in the Argentinean fuel retailing market, second to state-owned YPF SA.