The majority shareholder of the Shell Refining Company is considering selling its stake in the business, but no agreement has yet been reached with any potential buyer.

Shell Overseas Holdings Ltd - owner of 51 percent of Shell Refining, according to Reuters data - is in ongoing talks with China's Shandong Hengyuan Petrochemical Co (SHP), the refiner said in a filing to Bursa Malaysia today.

The statement added that no decision has been made to convert a refinery owned by Shell Refinery into a storage terminal.

For the full announcement, go here .

- Reuters