Petroleum giant Shell has announced it is putting its 120 kb/d Geelong refinery on the market as the company looks to concentrate its efforts on large scale projects.

Shell has announced in a statement earlier this week that it will seek a buyer who ‘will show due care for employees, provide reliable supply for the company and its customers and the facility safely’.

Shell has announced that while it would preference a sale to a bidder who intends to keep the facility operating as a refinery, it would also be open to the idea of selling it to a potential buyer who would convert the site into an import terminal.

Shell Australia’s downstream vice-president Andrew Smith acknowledged the process will create a period of uncertainty for employees.

He said Shell was committed to a timely sale process, providing support to employees during this period.

“I understand this announcement will be difficult for refinery employees, but Shell will support them through this period of uncertainty,” Mr Smith said.

“Refinery employees in Geelong have made a significant contribution to both Shell and the local community over many years, supporting the economy in south east Australia.”

The company committed to make an announcement of any successful buyer as soon as it could, and aimed to conclude the sales process by the end of 2014.