Shell has completed the sale of a Dominican refinery as part of an ongoing asset management campaign.

The company's 50 per cent stake in the Refineria Dominicana de Petroleo has been sold for $110 million to the government of the Dominican Republic, which is now the sole owner of the plant.

Commissioned in January 1973, the refinery has an output capacity of 34,000 barrels per day and is the largest plant in the republic.

With its attached import terminal, it serves most of the country's oil needs.

In a statement, the company said that the sale had been brokered as part of an ongoing strategy of improving shareholder value and also to further a new focus on downstream products in the region.

"Shell will continue to serve its customers in the Dominican Republic in a range of businesses including retail, lubricants and commercial marketing," the group said.

Earlier this month, Shell confirmed that it has appointed Mark Williams as its new head of downstream operations.


© Adfero Ltd

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