Repsol shuts FCC unit at Petronor refinery in Spain amid poor margins
By JENNY GROSS
Repsol has shut the FCC unit at its 220,000 bpd Petronor refinery in Spain because of dismal refining margins in Europe, Petronor said in a statement.
"Petronor reports that, given the drastic decline in margins in the last three months and the fall in demand that has been occurring throughout the year 2011, it has been forced to adopt a measure so far unprecedented in the history of company and is stopping the FCC unit, which will remain out of service for the entire month of January," Petronor said in a statement translated from Spanish.
Repsol's Petronor refinery is in the Somorrostro valley, 20 kilometers from Bilbao in northern Spain.
It accounts for over 50% of the movements into and out of the port of Bilbao by weight, Repsol said.
Dow Jones Newswires
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