By OGJ editors
HOUSTON, Oct. 21 -- Petroplus Holdings AG, Zug, Switzerland, has taken the first step toward closing its 84,800-b/d refinery at Reichstett, France.
The company said efforts to sell the refinery had failed (OGJ, Apr. 12, 2010, Newsletter).
“In the current challenging refining market and capital-constrained environment, the company cannot justify further sizeable capital investments in the plant,” it said in a statement.
Petroplus told labor officials it will start formal consultations leading to a proposal of terms for halting refining operations and converting the facility into a terminal.