Switzerland: Petrolplus Announces Temporary Refinery Shutdowns
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Tuesday, 03 January 2012 |
Petrolplus will temporarily shut down three of its European refineries as it continues negotiations with its lenders. The Petit Couronne, Antwerp and Cressier facilities will temporary close this month, according to a statement issued by the firm, which cited limited credit availability and Europe’s current economic climate.
“The restart of the refineries is dependent on economic conditions and credit availability,” added the statement, which said that Petrolplus would continue to issue updates on the situation. Petrolplus, the largest independent refiner in Europe, operates five refineries with a combined capacity of 667,000 bpd.
The company recently warned that the suspension of a revolving credit facility would cause substantial operational problems. According to its most recent statement, Petrolplus has had “open and constructive” meetings with its lenders in Zurich, and further meetings will take place over the coming days.
PetrolWorld 03012011
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