Shell in talks to sell Malaysia fuel stations to Saudi Aramco, sources say ...Middle East

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SINGAPORE: Energy giant Shell is in talks with Saudi Arabia’s state-owned Saudi Aramco to sell its gas station business in Malaysia, the second-largest such network in the country, four industry sources aware of the discussions said, and a deal could be worth up to $1 billion.Shell declined to comment on the talks but said Malaysia is an important country to the company. Saudi Aramco also declined to comment.London-based Shell wholly owns around 950 fuel stations across the Southeast Asian country, according to its website, with only Malaysia’s state-owned Petronas operating a bigger network.Talks began in late 2023 and a deal may be finalised in the coming months, one source said. Two sourc

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Last updated : 07 May 2024 clock 07:16 AM

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Shell in talks to sell Malaysia fuel stations to Saudi Aramco, sources say ...Middle East

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