Shell Signs Sale Agreement With Magellan for Refined Products Pipeline System; Shell Continues to Re-Align Portfolio

Shell Signs Sale Agreement With Magellan for Refined Products
Pipeline System; Shell Continues to Re-Align Portfolio 


HOUSTON, June 24  /PRNewswire/ -- Shell Oil Products US announced today it has
signed a Purchase and Sale Agreement with Magellan Midstream Partners, L.P. for
the sale of pipeline and storage assets located in Texas, Oklahoma, Kansas and
Colorado.

(Logo:  http://www.newscom.com/cgi-bin/prnh/19990716/SHELL )

Major assets included in the sale consist of the Orion Pipeline, Hearne
Pipeline, Chase Pipeline, and Cimarron Pipeline.  These pipeline assets, along
with associated distribution terminal and storage assets, form an integrated
system that carries refined products from the U.S. Gulf Coast refineries to
West Texas and the Great Plains region.  Major markets include Dallas, El Paso,
Oklahoma City and Denver.

The transaction is expected to close in the third quarter of 2004 after
completion of due diligence and appropriate regulatory review.

"The completion of a Purchase and Sale Agreement with Magellan for these
pipeline and terminal assets is another step in the journey towards improving
our performance in support of reaching our financial and operational targets,"
said Lynn Elsenhans, CEO of Shell Oil Products US.

Shell remains committed to marketing the Shell brand in West Texas and the
Great Plains region through the company's retail and wholesale networks.
Contractual obligations to our customers will continue to be honored.

Shell Oil Products US, a subsidiary of Shell Oil Company, is a leader in the
refining, transportation and marketing of fuels, lubricants, coolants, services
and solutions to consumer and business-to-business customers in automotive,
commercial and industrial sectors.  Shell Oil Company is an affiliate of the
Royal Dutch/Shell Group of Companies (NYSE:RD/SC).  For more information,
please visit http://www.shell.com/ . 

http://www.newscom.com/cgi-bin/prnh/19990716/SHELL

DATASOURCE: Shell Oil Products US



CONTACT:  Shawn Frederick of Shell Oil Products US, [phone]



Web site:  http://www.shell.com/ 

Copyright