Royal Dutch Shell is selling its Mobile, Alabama refinery to Vertex Energy for $75 million, the company said on Wednesday.
Vertex is a Texas-based specialty refiner of alternative feedstocks.
Shell is shrinking its refining and chemicals portfolio as part of a broader shift by oil majors to reduce hydrocarbon emissions and shift to lower-carbon fuels.
Shares of Vertex surged more than 40% in after-market trading after the deal was announced.
Source: Reuters
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