Shell, Varo in talks on German refinery stake sale

Royal Dutch Shell and Varo Energy are in advanced talks on the sale of Shell's 37.5 percent stake in the 220,000 barrels per day refinery in Schwedt, Germany, they said on Thursday. Varo Energy, a joint venture between the world's biggest oil trader Vitol and private equity firm Carlyle Group, owns a refinery in Cressier in Switzerland and the Bayernoil refinery in Germany.