NewsWhore
07-18-2006, 07:10 AM
The Shell Company (Royal Dutch Shell), which owns 50% of the Dominican National Refinery (REFIDOMSA), 137 gas stations around the country, exclusive fuel services to several airports and a fleet of fuel trucks, has announced its intention to test the market for its assets. According to Rafael Maradiaga, the local Shell representative, the company has begun a process of "evaluating and reviewing its portfolio of Dominican holdings" as a result of receiving "expressions of interest" from un-named sources. The Shell Company is the government's partner in the refinery, but it does not share any important management decisions with the government. It purchases petroleum where it sees fit, and according to Arturo Martinez Moya, with "no effective control by the Dominican State." Martinez Moya attributes the move to what he calls "the Chavez Effect" that is hurting Shell's operation in the Dominican Republic. Martinez Moya, writing in Hoy, says that it is possible that Shell has made economic projections similar to those carried out by Verizon and come up with a similar result. Martinez Moya says that Venezuela is the most logical buyer for the Shell assets.
In further articles on the same topic, Diario Libre says that the National Association of Gasoline Retailers (ANADEGAS) is happy with the Shell announcement, since it will place their 137 gasoline stations on the market. According to ANADEGAS president Juan Ignacio Espaillat there are 70 gasoline retailers interested in acquiring the Shell-owned stations.
Link To Original Article (http://www.dr1.com/index.html#7)
In further articles on the same topic, Diario Libre says that the National Association of Gasoline Retailers (ANADEGAS) is happy with the Shell announcement, since it will place their 137 gasoline stations on the market. According to ANADEGAS president Juan Ignacio Espaillat there are 70 gasoline retailers interested in acquiring the Shell-owned stations.
Link To Original Article (http://www.dr1.com/index.html#7)