Shell is moving to sell its petrol station business in Malaysia. Malaysia's major local media reported the story from market sources. Saudi Arabia's state-owned Saudi Aramco is seen as a likely negotiating partner. Shell and Aramco are expected to make concrete progress in the negotiations as early as this year. The sale price may be around US$1 billion, according to sources.

Shell has 950 petrol stations in Malaysia, the second largest number after state-owned Petronas. Shell recently sold its oil refining and petrochemical complex in Singapore and is in the process of optimizing its operations. CAPGC, a joint venture between Indonesian petrochemical firm Chandra Asri and Glencore, acquired the Singapore complex.