RD Royal Dutch Petroleum Company

Shell Completes Sale of Major Refined Products Pipeline Systems; Asset Sales to Buckeye and Magellan Valued at $1 Billion HOUSTON, Oct. 1 /PRNewswire/ -- Shell Oil Products US announced today that it has completed the sale of the company's Mid-Continent refined products pipeline system to Magellan Midstream Partners, L.P., and the sale of the company's Midwest refined products pipeline system to Buckeye Partners, L.P. Shell has received proceeds from the two transactions totaling just over $1 billion. The Mid-Continent refined products pipeline system, being acquired by Magellan Midstream Partners, L.P. for approximately $490 million, is comprised of pipeline and storage assets located in Texas, Oklahoma, Kansas and Colorado. Major assets in the system include the Orion Pipeline, Hearne Pipeline, Chase Pipeline, and Cimarron Pipeline. These pipeline assets, along with associated distribution terminal and storage assets, form an integrated system that carries refined products from the U.S. Gulf Coast refineries to West Texas and the Great Plains region. Major markets include Dallas, El Paso, and Denver. The Midwest refined products pipeline system, being acquired by Buckeye Partners, L.P. for $517 million, is comprised of pipeline and storage assets located in Missouri, Illinois, Indiana, Ohio, Michigan and Kentucky. Major assets included in the sale consist of the East Line Pipeline, North Line Pipeline, St. Louis ATF Pipeline, St. Louis 6-inch Pipeline, 2Rivers Pipeline and 24 distribution terminals. These pipelines carry refined products from primarily U.S. mid-continent refineries to points throughout the Midwest region. Major markets include Chicago, St. Louis, Cleveland, Indianapolis and Cincinnati. "The sale of these assets represents one of several strategic decisions we have made to streamline our businesses. The goal of our efforts is to further enhance our competitiveness, maximize the operational efficiency of the organization, and build upon our improving financial performance," said Lynn Elsenhans, CEO of Shell Oil Products US. Shell remains committed to marketing the Shell brand in West Texas, the Great Plains region, and the Midwest through the company's retail and wholesale networks. Contractual obligations to our customers will continue to be honored. Shell Oil Products US, a subsidiary of Shell Oil Company, is a leader in the refining, transportation and marketing of fuels, and has a network of nearly 7,000 branded gasoline stations in the Western United States. Shell Oil Company is a 50 percent owner of Motiva Enterprises LLC, along with Saudi Refining, Inc., which refines and markets branded products through more than 10,000 stations in the Eastern and Southern United States. Shell Oil Company is an affiliate of the Royal Dutch/Shell Group of Companies (NYSE:RDNYSE:SC). For more information, please visit http://www.shell.com/ . DATASOURCE: Shell Oil Products US CONTACT: Shawn Frederick of Shell Oil Products US, +1-713-241-1571 Web site: http://www.shell.com/

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