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Report: Shell looking to divest Puget Sound Refinery in Washington

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Six trends shaping the industries and sectors we cover in 2021

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Essential Energy Insights - January 2021


Report: Shell looking to divest Puget Sound Refinery in Washington

Oil major Royal Dutch Shell PLC is planning to divest its Puget Sound Refinery near Anacortes, Wash., Reuters reported Jan. 9, citing three people familiar with the matter.

The sources told Reuters that Shell's North American refining operations would be reduced to large plants on the U.S. Gulf Coast if the divestment and other assets sales are completed.

The refinery has an average annual processing rate of 145,000 barrels of crude oil per day, according to Shell. The report said this is the third time Shell has tried to sell the plant in the past year.

Shell has publicly committed to selling more than $5 billion of assets in 2019 and 2020.

In June 2019, Shell unit Equilon Enterprises LLC, doing business as Shell Oil Products US, said it would sell the Martinez Refinery in California to PBF Energy Inc. unit PBF Holding Co. for up to $1 billion.