Shell in talks to sell Malaysian gas station business to Saudi Aramco in $1-billion deal: report
Energy conglomerate Shell is currently negotiating the sale of its extensive gas station network in Malaysia to Saudi Arabia’s state-owned oil company, Saudi Aramco, in a deal that industry insiders estimate could reach $1 billion, Reuters reported. Strategic divestiture amid global refocusingShell, headquartered in London, operates around 950 fuel stations in Malaysia, making it the country’s second-largest network after the state-owned Petronas. The potential sale, which began discussions in late 2023, is part of Shell’s broader strategy under CEO Wael Sawan to streamline operations and conc...