Shell to sell Puget Sound Refinery in US to HollyFrontier Share Royal Dutch Shell has agreed to divest its Puget Sound Refinery in the US to refiner HollyFrontier. HollyFrontier will purchase the refinery, the on-site cogeneration facility, as well as related logistics assets, for $350m in cash plus the value of the hydrocarbon inventory. The hydrocarbon inventory will be valued on closing of the deal. The current value is estimated to be in the range of $150m to $180m. The deal also covers the product offtake agreements in support of Shell’s existing Pacific Northwest retail marketing business. It also includes a deep-water marine dock, a light product loading rack, a rail terminal, and storage tanks.