Regulatory News:
Petroplus Holdings AG (SWX:PPHN) today announced that the repairs
on the damaged Pentane Isomerization Unit Dehexanizer Column at the
Coryton refinery are expected to be completed around the 18th of
December. The refinery is expected to be running at full capacity by
the beginning of 2008. As a result of the incident, the costs of the
repairs are estimated to be around $15 million. The company expects
that its property damage insurance will cover the majority of the
repair costs for the incident.
Petroplus Holdings AG is the largest independent refiner and
wholesaler of petroleum products in Europe. Petroplus focuses on
refining and currently owns and operates five refineries across
Europe: the Coryton refinery on the Thames Estuary in the United
Kingdom, the Ingolstadt refinery in Ingolstadt, Germany, the Belgium
Refining Company refinery in Antwerp, Belgium, the Cressier refinery
in the canton of Neuchatel, Switzerland, and the Teesside refinery in
Teesside, United Kingdom. The refineries have a combined throughput
capacity of approximately 625,000 bpd. Petroplus has signed a letter
of intent to acquire the Petit Couronne and Reichstett refineries,
located in France, from Shell International Petroleum Company Limited.
The refineries have a total nameplate crude capacity of 239,000
barrels per day.
