Shell brand will enter the Sri Lankan fuel retailing market later this year after Shell Brands International AG (“Shell”) and RM Parks (Private) Limited signed a retail brand license agreement, and affiliates of Shell and RM Parks (Private) Limited signed a product supply agreement.
RM Parks (Private) Limited is a partnership of the Tristar Group (“Tristar”), a fully integrated energy logistics business serving the downstream oil and gas industry, and RM Parks., Inc, an experienced distributor of Shell fuels in the in North American fuel retailing market.
RM Parks (Private) Limited will rebrand to Shell an existing network of 150 retail fuel stations across Sri Lanka, which it was awarded a contract to operate for an initial period of 20 years by the Sri Lankan Ministry of Petroleum and Energy in 2023.
Building on Shell’s proven experience as the global leader in mobility, in bringing quality fuels, lubricants and services to motorists worldwide, the brand license and product supply agreement will give Sri Lankan consumers access to Shell’s fuel and lubricant portfolio, together with comprehensive offers in lower-emission fuels and convenience retail.
The first Shell branded stations are expected to open in the third quarter of 2024.
Eugene Mayne, Group CEO of Tristar said: “This is a great start to 2024 and we look forward to making a strong entry into the downstream fuel industry in Sri Lanka. With a valuable partner such as RM Parks and by harnessing the strength of the Shell brand, the opportunities to grow our footprint in Sri Lanka are unlimited and we look forward to playing an active role in making further oil and gas investments in the country.”
Jason Callison, President of RM Parks Inc. said: “We are excited to continue our long and valuable relationship with Shell by reintroducing the Shell Brand in Sri Lanka after a more than 60 year absence. With our strong partnership with the Tristar Group and the Shell brand we feel that the future growth opportunities in Sri Lanka are limitless.”
István Kapitány, Global Executive Vice President of Shell Mobility said:
“Through this partnership with RM Parks and Tristar, we are excited to bring the experience of visiting Shell service stations, including our Shell fuels and great convenience retail offers, to millions of new customers in Sri Lanka. Every day, around 33 million drivers around the world visit a Shell service station for an evolving range of quality fuels, a welcoming and comfortable break on the journey and a retail experience that offers customers convenience, quality and choice. This collaboration with RM Parks and Tristar is a great example of how we are bringing Shell’s quality products and services to new markets and helping fuel retailers and entrepreneurs to grow their business through Shell brand licensing.”
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