Vopak, Shell and Greenergy complete Coryton refinery’s acquisition

01 October 2012 07:47  [Source: ICIS news]

LONDON (ICIS)--Vopak, Shell and Greenergy have completed the acquisition of the assets of the Coryton refinery in Essex near London for an undisclosed sum, they said in a joint statement on Monday.

The assets purchase was completed on 28 September, the statement said.

“The three companies plan to develop and invest in this facility – to be named Thames Oil Port – to create a state-of-the-art import and distribution terminal for oil products to be managed by Vopak,” the statement added.

The initial capacity will be around 500,000cbm, with a potential to expand it to up to 1m tonne cbm in later stages, it added.

Vopak, Shell and Greenergy bought the assets from the administrators of Petroplus, a Switzerland-based independent refiner that went insolvent earlier this year.

The companies had announced their interest to acquire the refinery in June this year.

By: Tahir Ikram
+65 6780 4359

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