Firm pulls bid for Petroplus refinery in France – reports

31 August 2012 16:28  [Source: ICIS news]

LONDON (ICIS)--Hong Kong-based Alafandi Petroleum Group has withdrawn a bid for the 161,800 bbl/day Petroplus refinery at Petit Couronne near Rouen in northwest France, French media reported on Friday.

The reports, citing Petroplus’ French insolvency administrators, said that after Alafandi’s withdrawal the only bid left for the refinery was by Netoil, a United Arab Emirates-based energy firm.

Alafandi could not be reached for comment on Friday. On its website, the company still posted details about its bid, but added that the offer was not complete. Petroplus and its administrators were not immediately available to comment.

The Petit Couronne refinery is one of five European refineries affected by the insolvency of Switzerland-based independent oil firm Petroplus earlier this year.

Petroplus refineries in Germany, Belgium and Switzerland have been sold to oil trading firms, and Petroplus UK refinery will be converted into an oil terminal.

Petit Couronne recently restarted operations after Shell agreed to supply the unit for a limited time. Shell had sold the refinery to Petroplus in 2008.

The plant supplies a number of downstream customers in the chemical industry, including French plants of US-based lubricants additives major Lubrizol.

By: Stefan Baumgarten
+1 713 525 2653

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