Special to WorldTribune.com

ABU DHABI — Kuwait has entered the European energy market.

The state-owned Kuwait Petroleum International has reached an agreement to purchase a key division of Royal Dutch Shell.

Under the agreement, estimated at 500 million euro, KPI would acquire Italy’s retail fuel sector of Shell, which included at least 830 gasoline stations, far more than Britain and France.

Shell, which in 2013 sought to unload its Italian fuel stations, said KPI would supply Q8 gasoline to Italy.

The company said the agreement would require approval by the European Union.

KPI already operates 2,700 fuel stations in Italy, more than 10 percent of the country’s 24,000 stations.

“The sale is consistent with Shell’s strategy to concentrate Shell’s
downstream footprint on a smaller number of assets and markets where we can
be most competitive,” Shell said.

  KPI, Kuwait to acquire key retail fuel sector from Shell, Royal Dutch Shell