Petroplus to shut down three refineries in January

Petroplus Holdings AG reported Dec. 30 it will start the temporary shutdown of three of its refineries in Europe next month after lenders froze a $1 billion credit facility.

The Zug, Switzerland-based independent refiner said it will start temporary economic shutdowns in January of its refineries in Petit Couronne, France, 161,800 b/d; Antwerp, Belgium, 107,500 b/d; and Cressier, Switzerland, 68,000 b/d, “given limited credit availability and the economic climate in Europe.”

Restart of the facilities, the company said, is “dependent on economic conditions and credit availability.”

Petroplus Holdings is the largest independent refiner and wholesaler of petroleum products in Europe. In addition to the three affected refineries, the company also owns and operates a 220,000-b/d refinery in Coryton, UK, and a 110,000-b/d refinery in Ingolstadt, Germany.

All five refineries have a combined throughput capacity of 667,300 b/d.

Contact Steven Poruban at stevenp@ogjonline.com.

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