Shell is considering to sell its 900 Australian petrol stations, following a massive decline in annual profits.

Last week the global energy giant reported a 39 per cent slump in annual profits.

Shell is also planning to sell its 32 Australian fuel terminals, with its Geelong refinery having been on the market since the start of last year.

Shell confirmed there was a potential buyer for the refinery and the stations.

“We have an expression of interest in our downstream business in Australia refining and part of our marketing businesses and that’s frankly all I can say about it at this stage,” Shell CEO, Ben Van Beurden, told the ABC.

“We never comment on things that are ongoing in the M&A (mergers and acquisitions) space,” Beurden said.

“If there is something to announce we will do that as soon as the milestone is there.”