Royal Dutch Shell sheds assets in Argentina, including it’s retail operation, but will maintain it’s grip on one of the more promising shale basins in the world. Photo courtesy of Wikimedia Commons April 24 (UPI) — The Vaca Muerta shale formation in Argentina has substantial growth potential remaining, Shell said Tuesday after it unloaded its downstream business. For close to $1 billion in cash, Royal Dutch Shell said it was selling off everything from its retail service stations to its refinery in Buenos Aires to Raízen, the third largest energy company in Brazil. After the close, Shell will still have a footprint in the downstream, or refinery side, of the energy sector in Argentina. “Raízen has already delivered significant value for us in Brazil and we will remain an important fuel supplier to Argentina under this deal,” John Abbott, the director of downstream activity for Shell, said in a […]