Report: BP, Shell look to sell Australia refineries, gas stations

|By:, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) and BP reportedly are considering the sale of refineries and gasoline stations in Australia to free up cash.

Shell is in preliminary talks with two parties about a A$3B ($2.69B) sale of 900 gas ­stations and its refinery in Geelong, according to the Australian Financial Review; BP is said to be examining a A$3B sale of its gas stations and refineries in Queensland and Western Australia.

The report also speculates that Chevron (CVX) may follow BP and Shell and sell out of its Australian service stations.