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M&A - Asia

FACTBOX-European oil refineries sold and up for sale

 (Update with Lindsey, Shell refineries)
 LONDON, April 23 (Reuters) - Many European oil and chemical
firms have been looking to sell domestic refineries since last
year as demand for fuels and petrochemical products has fallen
more sharply in Europe than in most other parts of the world,
hitting profit margins.
 Following are the refineries around Europe that have been
sold or are up for sale:
 (For refinery merger and acquisitions over past 10 years,
click [ID:nLDE61P18R], for refineries that have been closed due
to weak economics, click on [ID:nREFINERY]) 
 
 LINDSEY, UK
 * French major Total TOTF.PA is looking to sell the
221,000 barrels per day refinery. 
 * Swiss refiner Petroplus PPHN.VX said it has proposed 
buying it. [ID:nLDE63L263]
 * It is Britain's third largest refinery, which began
operation in 1968. Employs about 500 people.
 * A relatively simple refinery, with an undersized gasoline
making catalytic cracking unit relative to its crude processing
capacity.
 * Has high middle distillate yield.
 * The plant can process 40 different types of crude oil,
while North Sea crude accounts for 85-95 percent of its crude
oil slate, according to the corporate website.
 * Total invested 200 million pounds ($308.5 million) in the
HDS-3, or hydrodesulphurisation unit, to make ultra low sulphur
diesel. The construction will be completed in spring 2010. Total
has not said when it will come onstream.
 
 HARBURG, HEIDE, GERMANY
 STANLOW, UK
 GOTHENBURG, SWEDEN
 * 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 will consider buying them in May or June after its
planned initial public offer in London. It said it had no
proposal to use the $2.5 billion to be raised from the IPO to
buy them. [ID:nSGE6370B8]
 * Last year, sources said. 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. [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.
 
 PEMBROKE, UK
 * U.S. major Chevron CVX.N said it would sell the 210,000
barrels per day plant in Wales. [ID:nN09227603]
 * The plant came on stream in 1964.
 
 GRANGEMOUTH, UK
 * 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.
 (Reporting by Ikuko Kurahone)

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