Shell PLC on Thursday announced a sale that it said reflected its focus on performance, discipline and simplification.
The London-based oil major said its subsidiary Shell Midstream Operating LLC will sell its 16.125% interest in Colonial Enterprises to Colossus AcquireCo LLC, a subsidiary of Brookfield Infrastructure Partners LP and its partners for $1.45 billion.
Colonial is an independent company and fully owns Colonial Pipeline Co, a non-operated venture, as well as Colonial Marketing Co. Colonial Pipeline provides oil products transportation services from the US Gulf Coast to the US Atlantic Seaboard.
‘This divestment reflects our focus on performance, discipline and simplification. It will allow us to concentrate on areas where we have scale and competitive advantage,’ said Andrew Smith, president of Shell Trading & Supply.
Shell expects the sale to close in the fourth quarter of 2025.
Shell shares had closed 4.2% lower at 2,664.50 pence each on Thursday in London.
Copyright 2025 Alliance News Ltd. All Rights Reserved.
