Royal Dutch Shell PLC (RDSB.LN) said Tuesday that the sale of A/S Dansk Shell to Dansk Olieselskab AS has terminated and won't complete.
The oil major said its $30 billion divestment program remains on track to be completed in 2018, with deals worth $23 billion concluded, $2 billion announced and $5 billion in advanced progress.
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Shell said in September 2016 that it planned to sell Dansk Shell, which consists of the Fredericia refinery and local trading and supply activities, to Dansk Olieselskab for $80 million.
It said at the time that the proposed sale was consistent with the company's strategy to concentrate its downstream operations on areas where it can be most competitive.
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(END) Dow Jones Newswires
January 02, 2018 09:15 ET (14:15 GMT)