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Libya’s National Oil Company has joined the race to buy the UK’s second-largest oil refinery from Anglo-Dutch supermajor Royal Dutch Shell.
UK newspaper, The Sunday Times reported that Shell’s Stanlow complex in the north west of England has been put on the market in a cost cutting drive initiated by Shell’s new CEO, Peter Voser.
It is believed that the Libya’s state-owned National Oil Company are interested in the refinery due to a desire to break into the European market.
Other interested parties that are expected to take part in the auction include a sovereign wealth fund controlled by the Saudi Arabian royal family and Valero, the US-based refining giant.
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How much unconventional gas has been discovered to date?
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