Royal Dutch Shell has announced it is exploring the option of selling its 900 gas stations in Australia.
Shell is also planning to sell its 32 Australian fuel terminals. The Geelong refinery has been on the market since the start of 2013.
The company says it has already lined up some potential buyer for its refining and part of its marketing business in Australia.
The announcement follows a 39 percent drop in annual profits last year.
The company is looking to sell $17 billion worth of assets globally.