Shell Gibraltar business up for sale

That means they are turning to exploration and production rather than established retail outlets like the two petrol stations and yacht fuel supply outlets on the Rock.

Shell has been one of the grand names of business for decades but local Shell Chief Harry Murphy, Country Chairman, was yesterday tasked with delivering a message to staff that will undoubtedly set off a ripple of uncertainty.

Shell announced yesterday that it is seeking “interest from potential buyers for its downstream businesses in Gibraltar in line with its strategy to concentrate its global downstream footprint”.

Mr Murphy said: “Although the decision to seek interest for the Shell businesses in Gibraltar is a strategic one, we believe that our businesses, like selected others across the global business, provide an attractive opportunity for an investor to purchase an integrated, cost-efficient and professional marketing business including filling stations, with an established presence in the country.”

It’s early days yet but an obvious potential buyer is CEPSA Gibraltar which already has half of the airport fuel business with Shell and a major local presence.

Mr Murphy emphasises that his staff are all experienced. In fact the company has experienced considerable rationalisation over the years.

The company confirmed that all downstream businesses in Gibraltar are in scope of the review including retail, commercial fuels and marine businesses, depot and pipeline infrastructure and Shell’s shares in the local aviation joint-venture. An option to appoint a third-party distributor for Shell-branded lubricants in Gibraltar is included in the review.