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Shell sells Panama retail assets to Petroleos Delta as part of its global strategy

Friday, October 15, 2010

Oil major Royal Dutch Shell has agreed to sell its Panamanian assets to local group Petroleos Delta to reduce its retail presence as part of its global strategy.

Shell owns 25 service stations in the Central American nation and another 43 branded locations operated by franchisees.

The deal follows Shell's strategy of reducing its retail presence, said Marco Pezzotti, country chairman for Shell in Panama.

Original source: Reuters