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Energy giant Shell is in talks with Saudi Arabia's state-owned Saudi Aramco to sell its gas station business in Malaysia, the second-largest such network in the country, four industry sources aware of...
Sources said talks began in late 2023, and a deal may be finalised in the coming months.
Four unnamed sources have told Reuters that Saudi state-run oil giant Aramco is in talks to potentially acquire Shell’s billion-dollar gas station business in Malaysia
Shell is reportedly in talks with Saudi Aramco to sell its Malaysia gas station business for $1B. Plans to divest 500 stations this year, focus on profitable ventures.
Shell wholly owns around 950 fuel stations across the Southeast Asian country, according to its website, with only Malaysia’s state-owned Petronas operating a bigger network