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Shell sells Australian aviation fuel unit

Staff Writer |
Royal Dutch Shell has agreed to sell its Australian aviation fuel business for $250 million to Viva Energy.

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Under a trademark licencing agreement, Viva will keep the Shell brand going across the aviation refuelling network in the country and will continue to supply aviation customers with Shell branded fuel under existing contracts.

Shell said it expected the transaction to complete by mid-2017, subject to regulatory approval.

Shell's upstream operations in Australia, which include exploration, production and gas commercialisation, will not impacted by this announcement.

Shell has completed the sale of a 31.2% shareholding in Showa Shell Sekiyu K.K. to Idemitsu Kosan Co. Ltd. for a total amount of JPY159 billion (approximately US$1.4 billion).

Completion follows anti-trust approval from the Japan Fair Trade Commission.

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