• About
  • Advertise
  • Join the Tank Storage Community
  • Contact
Friday, August 12, 2022
Tank Storage Magazine
ADVERTISEMENT
  • Home
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Join the Tank Storage Community
    • Join the Tank Storage Community
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Independent Tank Terminal Map
    • Tank Storage Media Kit 2022/2023
    • Download Independent Audit
    • Contact Us
  • Directory
  • Global Events
  • Awards
  • StocExpo

To search please Login or Register for free.

  • Home
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Join the Tank Storage Community
    • Join the Tank Storage Community
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Independent Tank Terminal Map
    • Tank Storage Media Kit 2022/2023
    • Download Independent Audit
    • Contact Us
  • Directory
  • Global Events
  • Awards
  • StocExpo

To search please Login or Register for free.

Tank Storage Magazine

To search please Login or Register for free.

Home Terminal News

Alcmene buys Shell’s PCK Schwedt refinery stake

July 16, 2021
in Terminal News
2 min read
Limetree Bay St Croix refinery starts up

Image: Dimitry Anikin/Unsplash

Share on FacebookShare on TwitterShare on Linkedin

Shell continues its refinery divestment strategy with the sale of its minority 37.5% stake in the 220,000 PCK Schwedt refinery in Brandenburg, Germany, to Alcmene, the Austrian subsidiary of Estonian oil terminal operator Liwathon.

The sale includes the hydrocarbon inventory, which will be valued at closing based on volumes and prevailing market prices. Based on current market prices, historic inventory volumes and normal operating conditions, the value is estimated at US$150–250 million. Alcmene will provide energy and commodities trading from its headquarters in Vienna, Austria.

PCK is independently managed. The other shareholders are Rosneft (54.17%) and Eni (8.33%). Shell does not operate the refinery so its employees will not be materially affected. The transaction is expected to close before the end of 2021, subject to partner rights and regulatory approval.

Shell says that Germany remains a key country towards its goal of achieving net-zero emissions, and that the sale does not affect any other activities in the country.

‘This is yet another milestone in our journey towards a reduced refining portfolio,’ says Robin Mooldijk, Shell’s EVP for manufacturing. ‘This sale supports the shift of Shell’s refining portfolio which includes the development of the high-value Energy & Chemicals Park Rheinland.’

In its 2020 Q3 results, Shell set out plans to reduce its refining portfolio to a smaller set of core sites integrated with chemicals and trading. It has already sold its Mobile Chemical LP Refinery in Alabama, US, to Vertex Energy, HollyFrontier bought the Puget Sound refinery in Washington, US, while Pemex unexpectedly bought out Shell’s share of the Deer Park refinery in Texas, US.

Next Post
Panama and Energy Transfer sign MoU for LPG

Panama and Energy Transfer sign MoU for LPG

About Tank Storage Magazine

Tank Storage Magazine is published by Easyfairs UK Ltd.

Tank Storage Magazine is the leading industry publication dedicated exclusively to the bulk liquid storage and terminal sector.

It has been delivering the latest news, developments, analysis, products and innovations for 15 years.

Published 7 times a year, the publication is read by CEOs, terminal managers, business development managers and senior engineers within the oil, gas and petrochemical market.

Site Links

  • Home
  • News
  • Features
  • Tank Talk
  • Videos
  • Join the Tank Storage Community
  • Advertise
  • Directory
  • Contact Us
  • Cookie Policy
  • Privacy Policy
  • Home
  • News
  • Features
  • Tank Talk
  • Videos
  • Join the Tank Storage Community
  • Advertise
  • Directory
  • Contact Us
  • Cookie Policy
  • Privacy Policy

© 2020 Easyfairs UK Ltd | 2nd Floor, Regal House | 70 London Road | Twickenham | TW1 3QS | United Kingdom | Registered in England No. 05067979

No Result
View All Result
  • Home
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Join the Tank Storage Community
    • Join the Tank Storage Community
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Independent Tank Terminal Map
    • Tank Storage Media Kit 2022/2023
    • Download Independent Audit
    • Contact Us
  • Directory

© 2020 Easyfairs UK Ltd | 2nd Floor, Regal House | 70 London Road | Twickenham | TW1 3QS | United Kingdom | Registered in England No. 05067979

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In