Royal Dutch Shell PLC is selling most of its downstream business in Chile to Quiñenco for a reported US$614 million. The sale covers all of Shell’s existing retail, commercial fuels, bitumen and chemical businesses in Chile. In exchange, Quiñenco will be the macro distributor for Shell-branded lubricants in Chile, including the right to market, sell and distribute Shell lubricant products. Quiñenco will also become the delivery service provider for Shell Marine Products to its international customers in Chile. Royal Dutch Shell corporate strategy has been to consolidate its global downstream portfolio in larger markets. Shells’ retail network of 300 service stations will still bear the Shell brand, under a separate trademark license agreement. (April 1,2011)