A private Dutch company has agreed to buy the 260,000 b/d Wilhelmshaven refinery on Germany’s North Sea coast from ConocoPhillips for an undisclosed amount.
The buyer is Hestya Energy BV, Amsterdam, which says it focuses on the European midstream oil business and “is building a portfolio of high quality, strategic assets through the acquisition of existing facilities and investment in Greenfield developments.”
Hestya lists its shareholders as Riverstone Holdings LLC, a private equity firm, and AtlasInvest, a private investment company.
The deal includes tank farm and marine terminal.
ConocoPhillips last year canceled a major upgrade of the Wilhelmshaven refinery in line with plans to lower its refining holdings (OGJ, Aug. 2, 2010, Newsletter).