Shell Oil Company, a wholly-owned member of the Royal Dutch/Shell Group, and Flint Hills Resources have entered into a definitive agreement under which a Flint Hills Resources, LLC subsidiary will purchase Shell’s 50 percent ownership interest in the Excel Paralubes venture. Terms of the sale were not released and it must be approved by the Federal Trade Commission before it can close.

Shell acquired its interest in Excel Paralubes last year when it bought the Pennzoil-Quaker State Company. At that time, the company entered into a consent order with the FTC under which it agreed to divest itself of Pennzoil’s 50 percent ownership in Excel Paralubes.

“We’re pleased to have achieved another important milestone in our successful integration of the Pennzoil-Quaker State Company,” commented Rob Routs, Shell Oil Company president. “Our attention is focused primarily on achieving the operational and financial goals we set at the time of the Pennzoil-Quaker State acquisition.”

“This growth opportunity is a great fit for us,” said Dave Robertson, president and chief executive officer of Flint Hills Resources. “It is a natural extension of our existing refining business activities, and Excel is well positioned in the base oil market. We look forward to entering into this new product line and the opportunity to serve this customer base.”

ConocoPhillips holds the other 50 percent interest in Excel Paralubes, which is both the name of the venture and the name of the venture’s base oil manufacturing plant. The facility is capable of producing approximately 21,000 barrels per day of Group II base oil, the primary base stock in motor oil. It is located adjacent to the ConocoPhillips refinery near Lake Charles, Louisiana.