Vitol to acquire Belgium refining assets

A division of Vitol Group agreed to acquire Petroplus Refining Antwerp and Petroplus Refining Antwerp Bitumen from Petroplus Holdings for $25 million.

By OGJ editors
HOUSTON, Oct. 28
-- A division of Vitol Group agreed to acquire Petroplus Refining Antwerp and Petroplus Refining Antwerp Bitumen from Petroplus Holdings for $25 million.

The transaction price excludes the cost of the inventory. Closing, subject to regulatory approvals, is expected by yearend.

The Belgium refining assets include a bitumen processing plant with 875,000 tonnes/year capacity. Assets also include a 22,300 b/d gas oil hydrotreater, and tank storage.

Petroplus Holdings, a European independent refiner, currently owns and operates seven refineries having a combined throughput capacity of 864,000 b/d.

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