Shell to Sell California Refinery to PBF Energy for $1 Billion

Date : 06/11/2019 @ 9:58PM
Source : Dow Jones News

Shell to Sell California Refinery to PBF Energy for $1 Billion

Shell 'A' (NYSE:RDSA)
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By Bowdeya Tweh

 

Royal Dutch Shell PLC said it has reached a deal to sell its Martinez Refinery in California to petroleum refiner PBF Energy Inc. for $1 billion.

Shell said Tuesday the divestiture aligns with its efforts to pare back its refining portfolio.

The deal is expected to close this year.

 

Write to Bowdeya Tweh at bowdeya.tweh@wsj.com

 

(END) Dow Jones Newswires

June 11, 2019 16:43 ET (20:43 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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