Shell has put its Stanlow complex on the market, with interest already expressed from two billionaire Indian brothers, and Libya's national oil firm together with Indian conglomerate Essar, among others.
Stanlow, Shell's only oil refinery in the UK, produces a sixth of Britain's petrol, and is situated near Ellesmere Port in Cheshire.
Shell put the oil refinery up for sale after reporting a 70% decline in second quarter profits to £1.4bn in recent weeks. The sale will assist in the reduction of Shell's substantial cost base.
Final bids for Stanlow and two German refineries at Heide and Harburg, which are being auctioned by Lazard, are due on August 17, with a price tag of around £1.5bn.
Shell's new chief executive, Peter Voser, plans to cut spending by 10%, and axe thousands of jobs from its 102,000-strong workforce.
Others expected to place bids include US oil refiner Valero and an investment firm controlled by the Saudi royal family.
