Uchenna Izundu
International Editor
LONDON, Jan. 18 -- The European Commission has approved Petroplus Holdings AG's $875 million proposal to buy two refineries from Shell International Petroleum Co. Ltd. in France, indicating that the deal will close in the second quarter.
Petroplus Holdings wants to buy the 164,000 b/cd Petit Couronne and 80,000 b/cd Reichstett Vendenheim refineries.
Petit Couronne, 130 km northwest of Paris on the Seine River, produces 40% middle distillates and 20% gasoline. The Reichstett Vendenheim refinery is in Alsace and produces 45% middle distillates and 20% gasoline.
Contact Uchenna Izundu at [email protected].
