Petroplus looks to sell France refinery, mulls additional sales
Petroplus is attempting to sell its Petit Couronne oil refinery in France amid ongoing credit woes, the Switzerland-based refiner said on Friday.
The company is struggling to get lenders to unfreeze its credit lines.
Petroplus also said it is examining “strategic options”, including sale, for its refineries in Antwerp, Belgium, and Cressier, Switzerland.
Operations at all three sites were suspended earlier this month.
Petroplus, which is Europe’s largest independent oil refiner and wholesaler, also has refineries in Ingolstady, Germany, and Coryton, England.
The five refineries have a combined capacity of 667,000 bpd.
The text of the Petroplus announcement is as follows:
“Petroplus Holdings today announced that it will initiate a sales process for the Petit Couronne refinery and related marketing business, after an information and consultation process with the Works Councils.
“During this period, all other possible options will be considered.
“The company also announced that it is evaluating strategic alternatives for the Antwerp and Cressier refineries, including potential sales. Petroplus intends to complete these processes in the coming months.
“The company also provided the following update in regards to operations. The Cressier refinery has been safely shut down. Labor actions at the Petit Couronne and Antwerp refineries are restricting the lifting of products. The company will provide further updates to the public as needed.”
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