Kuwait Petroleum International announces to have reached an agreement with Shell for the acquisition of shares in the companies containing Shell’s Retail, Supply & Distribution logistics and Aviation businesses in Italy. This is subject to regulatory approval.

Shell distributes and markets petroleum products in Italy through a retail network of more than 800 outlets, mainly located in Northern Italy supported by an efficient logistic structure. The retail network will be converted to the Q8 brand.

In the aviation business Shell operates in the most important Italian airports supplying aviation fuels.

Bakheet Al-Rashidi, President of Kuwait Petroleum International, has commented “this operation is of great importance as it confirms our interest in Europe and the confidence that the Kuwait Petroleum International Group has in the Italian oil market”.

“This operation” added Alessandro Gilotti, Managing Director of Kuwait Petroleum Italia SpA, “represents a major step forward in strengthening Kuwait Petroleum’s competitive position in the Italian oil market capitalizing on the combination of Kuwait and Shell’s commercial and logistics assets and the synergies deriving from the integration of the two companies and their cultures. Thanks to this operation Kuwait Petroleum will be able to deploy a highly professional workforce which will constitute the foundation of a company positioned to compete successfully in the Italian oil market over the long term”.

About Kuwait Petroleum International

Kuwait Petroleum International, known by our trademark Q8, refines and markets fuel, lubricants and other petroleum derivatives outside Kuwait. Our main activities are focused on Europe and the Far East.

Established in 1983, Kuwait Petroleum International is the international subsidiary of Kuwait Petroleum Corporation, which brings together all the state owned elements of the Kuwait oil sector under one corporate umbrella and is recognised as one of the world’s top ten energy conglomerates.

Our business encompasses the marketing and sales, research and refining of petroleum products.

Q8 markets fuel via over 4,000 service stations across Europe and operates a direct sales operation, providing road fuel and heating oil. Our International Diesel Service is dedicated to the needs of international road transport companies; Q8Aviation provides jet fuel at more than 60 airports internationally and Q8 Oils manufactures and markets some of the world’s finest lubricants.

About Royal Dutch Shell plc

Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.