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Oil report

FACTBOX-European oil refineries sold and up for sale

 LONDON, Sept 8 (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 areas of the world, hitting profit
margins.
 A private equity fund, Chinese and Indian companies have
shown interest in buying some refining assets in Europe, while
most market analysts believe oil demand in Europe has already
peaked.
 Following are the refineries around Europe that have been
sold or are up for sale:
 LIVORNO, ITALY
 * Italy's Eni ENI.MI said earlier in September it was in
preliminary talks with UK private equity fund Klesch & Co to
 sell its Livorno refinery. [ID:nL1634701]
 * Livorno is an 85,000 bpd simple refinery.
 
 HARBURG, HEIDE, GERMANY
 * Royal Dutch Shell RDSa.L has been looking to sell its
German Harburg and Heide refineries.
 * In August, sources said India's Essar Oil
ESRO.BO submitted bids for both refineries, as well as
Stanlow, another refinery of Shell's in the UK. [ID:nLI304164]
 * Essar has been 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. [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, UK
 * Sources said Essar submitted bids for Royal Dutch Shell's
Stanlow.
 * Stanlow has a capacity to process 267,000 bpd.
 GRANGEMONTH, UK
 * Located in Scotland, the plant processes about 200,000
barrels of crude oil per day and supplies fuels to the area.
 * 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 for an
investment in the Grangemouth refinery. [ID:nSP350411]
 * Grangemonth is a moderately complex refinery equipped with
both hydrocraking 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.
 VLISSINGEN, THE NETHERLANDS
 * Russia's Lukoil LKOH.MM bought a stake in the Vlissingen
refinery in the Netherlands from French major Total TOTF.PA in
June, blocking a bid by U.S. refiner Valero VLO.N.
[ID:nLJ579651]
 * The refinery's capacity is about 153,000 barrels per day
(bpd). [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.
 * Lukoil is likely to pay about $725 million, matching the
price Valero was expected to pay Dow.
 * 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.
 TEESSIDE, UK
 * Swiss-based refiner Petroplus PPHN.VX said earlier this
year it would sell its Teesside refinery in the UK by the end of
June or turn it into a storage site if no buyer can be found.
 * The 117,000 bpd simple plant stopped production in March
2009, when the company stopped buying crude for the plant.
 * Petroplus chief executive Thomas O'Malley sold his
previous venture U.S. refiner Premcor Inc to Valero in 2005.
 * Valero said earlier in June it was not interested in
buying Petroplus.
 (Reporting by Ikuko Kurahone)

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