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Bloomberg
Royal Dutch Shell has acquired full control of one of its gas station joint ventures in China as the oil major doubles down on the fuel retailing market in the world’s second-largest economy.
Shell has agreed
to buy the stake it didn’t already own in Chongqing Doyen Shell Petroleum & Chemical Co and completed the deal on October 19, a company representative said.
The oil major paid about $149 million for 51% of the joint venture. That marked the full exit of Chongqing Doyen Shuorun Petrochemical Group in
the gas station chain, which was founded in 2006.