Viva Upbeat about $2.9 Billion Geelong Refinery Acquisition in Australia
PERTH, AUSTRALIA--December 2, 2014--Researched by Industrial Info Resources Australia (Perth, Australia)--Viva Energy (Melbourne, Australia), a subsidiary of trading giant Vitol Group (Geneva, Switzerland), is planning to reinvigorate the 120,000-barrel-per-day (BBL/d) Geelong Refinery, which it acquired from Shell Australia (NYSE:RDS.A) (Perth, Australia) in August 2014. The refinery was purchased as part of a $2.9 billion deal that saw Shell sell all of its downstream Australian assets to Vitol, excluding Shell's aviation and lubricant production businesses.
Within this article: Details on Viva's $1 billion, five-year plan to upgrade the refinery and its downstream Australian assets.
