February 9, 2010 / 1:06 PM / 10 years ago

FACTBOX-European oil refineries sold and up for sale

 (Updates with Shell’s Gothenberg, Eni’s Livorno no longer for sale)
 LONDON, Feb 9 (Reuters) - Many European oil and chemical firms have been looking to sell domestic refineries as demand for fuels and petrochemical products has fallen more sharply in Europe than most other parts of the world, hitting profit margins.
 However, some have failed to find buyers.
 Following are the refineries around Europe that have been sold or are up for sale:
 * Royal Dutch Shell (RDSa.L) said about 560,000 bpd, or 15 percent of its global total refinery capacity was under review. [ID:nLDE610168] [ID:nLDE6131AY]
 * Shell has been in talks with India’s Essar Oil ESRO.BO on the sale of the three refineries. [ID:nLU627560]
 * Essar last year said the exclusive talks would last until the end of November but Shell said earlier in February they were still in talks. [ID:nDEL298848]
 * Essar has been in talks with UBS, Citigroup and JPMorgan for a loan of up to $750 million if it wins the bidding for the three refineries, sources said last year. [ID:nBMA005648]
 * Harburg has a capacity to process 5.2 million tonnes of crude oil a year (roughly 110,000 bpd). It is moderately complex and its key units are a catalytic cracker for gasoline making and lubricant systems.
 * Heide can process 4.5 million tonnes a year (93,000 bpd). It is an integrated, petrochemical oriented plant.
 * Stanlow has a capacity to process 267,000 bpd.
 * Gothenburg has a capacity to process about 78,000 bpd.
 * Italy’s Eni (ENI.MI) is no longer looking to sell Livorno. [ID:nLDE617172]
 * Last September it said it was in preliminary talks with UK private equity fund Klesch & Co to the refinery. [ID:nL1634701]
 * Livorno is an 85,000 bpd simple refinery.
 * Swiss-based refiner Petroplus PPHN.VX has agreed to sell the Antwerp bitumen plant to Vitol. [ID:nLQ83975]
 * Petroplus idled its 117,000 bpd Teesside plant in March last year. Initially it was seeking a buyer of the simple plant.
 * Petroplus Chief Executive Thomas O’Malley sold his previous venture U.S. refiner Premcor Inc to Valero Energy Corp in 2005 and is now in talks with Valero via PBF Investments to buy its shuttered 210,000 bpd refinery in Delaware City, the United States. [ID:nN22150443]
 * Located in Scotland, the plant processes about 200,000 barrels of crude oil per day.
 * Current operator British chemicals maker Ineos [INEOSP.UL] bought the plant from BP (BP.L) in 2005.
 * Chinese oil firm PetroChina (601857.SS) is in talks to  invest in the Grangemouth refinery. [ID:nSP350411]
 * Grangemouth is a moderately complex refinery equipped with both hydrocracking and catalytic cracking systems, giving it flexibility to produce gasoline and middle distillates, such as diesel, according to market demand.
 * The plant is connected to the North Sea Forties pipeline, which delivers about 650,000-700,000 bpd of crude oil, roughly half of the UK’s daily production.
 * Morgan Stanley has a deal with Ineos for product marketing and some crude oil purchase.
 * Russia’s Lukoil (LKOH.MM) bought a stake in the 153,000 bpd Vlissingen refinery in the Netherlands from French major Total (TOTF.PA) in June last year, blocking a bid by U.S. refiner Valero (VLO.N) [ID:nLJ579651] [ID:nLR73458] 
 * Total will retain a 55 percent stake in the plant. Lukoil has acquired 45 percent, which was previously held by Dow Chemical (DOW.N).
 * U.S. oil major ConocoPhillips (COP.N) owns 20 percent of Lukoil. 
 * Vlissingen is a moderately complex, diesel-oriented plant. It is equipped with a hydrocracker, which typically allows a refiner to process relatively heavier, cheaper crude oil such as Russian Urals.  (Reporting by Ikuko Kurahone; editing by James Jukwey)  

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