25 April 2012 16:07 [Source: ICIS news]
LONDON (ICIS)--Petroplus’s refinery in Coryton in the ?xml:namespace>
PricewaterhouseCoopers (PwC) received bids for the refinery – which is located 28 miles (48km) from central London in Essex – on 2 April and said a deal could involve refinancing, a sale or an extension of its tolling agreement.
PwC partner Steven Pearson, the joint administrator, said: “If we don’t do a deal by mid-May there is a very real risk that the refinery will be closed.”
Under the tolling agreement, crude oil has been delivered to the 220,000 bbl/day refinery for processing for an initial period of three months, which ends in May.
Petroplus said in January it was to file for insolvency, after lenders froze about $1bn (€760m) in credit lines in December 2011.
($1 = €0.76)
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