London, UK | – Royal Dutch Shell plc has agreed to sell 185 service stations across Britain to two independent dealers, it announced on Monday, further reducing its presence in the European retail energy market.
Shell announced downstream and retail divestments last year in countries including Italy, Norway and Germany as part of cost cuts prompted by weak oil prices.
Shell has agreed to sell 90 of 185 stations to Motor Fuel Group, which already manages BP-branded service stations, while the sale of 68 others has been agreed with Euro Garages, the company said, without disclosing financial details.
Shell said it expected to sign contracts for the remaining stations in the coming weeks.
The stations will continue to operate under the Shell brand and will sell the oil firm’s products for at least five years following the conclusion of the sales.