Shell to shed German refining assets

Varo Energy BV, a midstream company owned by The Carlyle Group and Vitol Group, has entered formal negotiations with Royal Dutch Shell PLC for the purchase of Shell’s 37.5% minority interest in PCK Raffinerie GMBH’s 220,000-b/d refinery in Schwedt, Germany, located along Druzhba pipeline in Schwedt, Germany, about 120 km northeast of Berlin.