Raizen Energia S.A. has confirmed a bid for Argentinian assets of Royal Dutch Shell plc (ENXTAM:RDSA). Raizen through Raízen Combustíveis S.A. has submitted a bid to acquire Royal Dutch Shell's refining, fuel distribution and lubricants assets in Argentina. "The process involves other stakeholders, whose proposals are also under review by Shell," the statement by Raizen stated.

The other bids are made by YPF Sociedad Anonima (BASE:YPFD), Quiñenco S.A. (SNSE:QUINENCO) and PetroChina Company Limited (SEHK:857), Reuters said, quoting two people familiar with the plan.