Shell will end its 11-year-old partnership 7-Eleven this year in Singapore, as it looks to rebrand its fuel service stations to be in line with its "long-term business strategy".
Shell Singapore Retail GM Aarti Nagarajan said the move started with the launch of its Tampines Avenue 2 station in June, adding that a "national revamp will take place gradually in phases with the introduction of Shell Select and Deli by Shell". This will effectively end Shell's venture with 7-Eleven.
In 2006, Shell engaged the 24-hour chain to operate its fuel retail network here, saying the move would allow it to focus on more profitable activities. The exercise has met with mixed results - unlike a similar arrangement between rival ExxonMobil and NTUC FairPrice.
Shell currently has 57 fuel service stations, down from 68 some 10 years ago, and as many as 74 in 2003. The drop is on the back of an industry-wide shrinkage, with the total number of stations falling from 222 in 2003 to around 170 today in Singapore. Several sites have been assigned by the Government for other uses when their leases expired. Others were deemed security risks as they were too near high-rise residential or commercial developments.
Ms Nagarajan has dismissed rumours of Shell selling or leasing some of its stations to Sinopec. She described comments to that effect as "speculative" and "not been verified". Ms Nagarajan added: "We are committed to invest and grow our retail business in Singapore, which remains a strategic country for Shell." Source: Straitstimes PWKD02102017
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