iMetal

Shell PLC has indicated it has no plans to give up its fuel retailing business in Malaysia.
The British oil giant made the statement after a media report said it was in talks with Saudi Arabian Oil Co. (Aramco) to sell its station network in the Southeast Asian country. “Malaysia is important to Shell”, Shell said.
“We remain committed to the mobility business in the country”, it said in the two-sentence statement posted on its Malaysian website.
Earlier this week, Reuters said about the alleged discussions between Shell and Aramco, “Talks began in late 2023 and a deal may be finalized in the coming months”.
“Two sources briefed on the matter put a potential deal size at roughly 4 billion to 5 billion ringgit ($844 million to $1.06 billion)”, the news agency added, not naming the sources.
Aramco declined to comment, Reuters said.
Last year Aramco told Malaysian media it was considering establishing retail operations in the country as part of plans to grow the Pengerang Integrated Complex, which Aramco co-owns with Malaysia’s state-owned oil and gas company Petroliam Nasional Berhad. “We always look at our assets to see any potential for upgrades, expansion and most importantly, converting liquids to chemicals”, Mohammed Y. Al Qahtani told the Malaysian National News Agency in an interview published December 28, 2023.