Shell signs agreements to sell Los Angeles Refinery and related assets to
Tesoro

Royal Dutch Shell plc today welcomed the below announcement by Shell Oil
Products US that it has signed an agreement to sells its Los Angeles Refinery
and related assets to Tesoro:

Shell signs agreements to sell Los Angeles Refinery and related assets to
Tesoro - Strategy to further grow and build strong branded presence in
California and elsewhere will continue

Houston - Jan. 29, 2007 - Shell Oil Products US announced today that it has
signed agreements to sell its Los Angeles Refinery, Wilmington Products
Terminal and approximately 250 retail sites and supply agreements in and
around Los Angeles and San Diego to Tesoro Corporation. The proposed sale is
part of Shell’s previously announced ongoing strategy to streamline and
concentrate its Downstream portfolio. The transaction is expected to close in
mid-year 2007, assuming all regulatory approvals are obtained and other
conditions to closing are satisfied.
The Los Angeles Refinery, which began operations in 1923 as California
Petroleum Corp, has a crude throughput capacity of approximately 97,500
barrels per day. Shell acquired an ownership interest through a joint venture
in 1998 and became sole owner in 2002.
Commenting on the proposed sale of the assets, Rob Routs, Royal Dutch Shell
Executive Director Downstream, said: "This sale represents good value for our
shareholders and because Tesoro are acquiring all assets as a going concern,
it also secures jobs and energy supplies for people in Southern California.
The deal we have negotiated comes as a result of a proactive approach from
Tesoro to which we have reacted positively as it aligns with our ongoing
strategy of managing our Downstream portfolio."
The divestment is consistent with Shell's strategy of managing its portfolio
to deliver maximum value to customers and shareholders. The retail sites to be
sold to Tesoro will remain Shell-branded, and Shell’s commitment to further
build on its strong branded presence in California and elsewhere will
continue.
Tesoro has advised Shell that it intends to offer employment to most, if not
all, of about 500 affected Shell employees at the refinery, terminal, and
certain employees within Shell’s retail organization. Tesoro has also
expressed that it will abide by the collective bargaining agreement covering
the Los Angeles Refinery employees.
Shell Oil Products US will honor dealers’ agreements and rights under the
Petroleum Marketing Practices Act and any other applicable state or federal
laws. Per the terms of agreements with multi-site operators (MSO), the company
plans to assign some MSO contracts to Tesoro. Some supply contracts that Shell
has with its wholesalers and open dealers in the area will be assigned to
Tesoro.
Shell will continue to serve California’s diverse energy needs with
significant investments in refining, terminal and pipeline operations, retail,
exploration and production, lubricants, hydrogen and wind. Shell companies are
committed to growing and enhancing the Shell brand in California while
continuing to provide local motorists with high-quality fuels and services.
Shell is committed to maintaining all assets in its portfolio so that they run
safely and reliably. The company will continue to make necessary investments
in compliance, health, safety, environmental and other projects for these
assets until the transaction with Tesoro is complete.

About Shell Oil Products US
Shell Oil Products US, a subsidiary of Shell Oil Company, is a leader in the
refining, transportation and marketing of fuels in the United States. Shell
quality fuels and services are available through more than 13,500 Shell
stations nationwide. Shell Oil Products US is a dba for Equilon Enterprises
LLC. Shell Oil Company is an affiliate of the Shell Group (NYSE:RDS.A) and
(NYSE:RDS.B). For more information, please visit www.shell.com

About Tesoro Corporation
Tesoro Corporation, a Fortune 150 and a Global Fortune 500 company
headquartered in San Antonio, Texas, is an independent refiner and marketer of
petroleum products. Tesoro operates six refineries in the western United
States with a combined crude oil capacity of more than 560,000 barrels per
day. Tesoro’s retail marketing system includes over 450 branded retail
stations, of which approximately 200 are company operated under the Tesoro®
and Mirastar® brands. Tesoro’s commercial marketing system includes sales of
jet fuel and marine fuels.
Contacts:
Shell Media Relations:
The Netherlands and European Press +31 70 377 8750

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This Report on Form 6-K is incorporated by reference into:

a) the Registration Statement on Form F-3 of Royal Dutch Shell plc and Shell
International Finance B.V. (Registration Numbers 333-126726 and
333-126726-01); and

b) the Registration Statement on Form S-8 of Royal Dutch Shell plc
(Registration Number 333-126715).