Shell plans US$100 million investment in China

Royal Dutch Shell plc will invest more than US$100 million over three years in China’s refined oil retail business, mainly on gas station expansion, said Simon Henry, Shell’s chief financial officer. On the sidelines of the World Economic Forum held in north China’s port city of Tianjin, Henry said Shell is moving its refined oil retail businesses out of the mature European and American markets, where the demand for gasoline products and transportation is either going down or stagnant, and into growth markets in emerging Asian economies. Pumps will be expanded in Tianjin, Jiangxi, Guangdong, Sichuan and Chongqing, he said, adding that Shell is seeking partners for the ventures. (September 16, 2010)