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FRONT PAGE: Essar Oil close to buying out Shell's European refineries.
from BUSINESS LINE, October 31, 2009 Mumbai, Oct. 30 - Royal Dutch Shell PLC has selected Essar Oil as the preferred bidder for its three European refineries.
"Yes. Essar has entered into an exclusive negotiation with Shell for buying Shell's Refinery at Stanlow in the UK and Heide and Harburg in Germany. However, it is too premature to comment any further on the matter," said an Essar spokesperson.
"Shell can confirm today that we are in negotiations with Essar for the potential sale of Stanlow, Heide and Harburg refineries. For the time being, Shell will not be holding discussions with any third party other than Essar, although this does not guarantee a sale and it …
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