By OGJ editors
HOUSTON, June 27 -- BP PLC has started initial discussions with a number of potential buyers interested in its 163,400 b/cd Coryton refinery in Essex, UK. The divestiture stems from BP's decision to maintain a smaller network of European refineries.
The sale includes Coryton's distribution terminal next to the refinery and BP's UK bitumen business, which is integrated with the facility.
The buyer will be required to provide BP a long-term supply agreement and continuing use of the adjacent distribution terminal, BP said.
Excluding Coryton, BP owns or has interest in eight European refineries. Its principal refining assets are in Germany, Spain, and the Netherlands.