SHELL yesterday said it has set a deadline of the end of next month to complete the sale of its Stanlow oil refinery, otherwise it will withdraw from talks.
The oil giant announced it was open to offers in summer, 2009, after a company-wide review – but it has told LDP Business that, if it is not able to achieve what it considers the right price, the refinery will be withdrawn from sale and remain within the Royal Dutch Shell group.
“There are no plans for closure,” a group spokesman said.
Libya’s National Oil Corporation was an early suitor in 2009, but more recently London-based India-focused energy group Essar has been linked with acquiring the Ellesmere Port facility, which processes a sixth of the UK’s fuel needs.
Essar Energy recently announced a bond issue which could raise up to £420m towards funding new acquisitions.
