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June 29, 2006 / 12:04 PM

Shell sells outlets to affiliate

HOUSTON, June 29 (UPI) -- An Ohio affiliate of Shell Oil Co. is buying 29 Shell-branded locations and three supply contracts in the Columbus, Ohio, area.

Shell Oil Products US said Thursday that affiliate True North Energy LLC of Toledo, in which the energy giant holds a 50-percent stake, was the successful bidder for 29 Shell-branded locations and three supply contracts in the Columbus area.

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Last fall, Shell stated its intent to sell retail assets in 16 regions to better support its wholesale business and move toward its vision of becoming the best fuels retailer in the world.

This transaction means that Truenorth, Shell's largest fuel wholesaler, will now supply 335 million gallons annually to 230 Shell-branded locations in Ohio and Michigan. Truenorth will keep using the Shell brand at the 29 locations purchased.

The price of the 29 outlets was not disclosed.

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