Regulatory News:
Petroplus Holdings AG (SWX: PPHN) today announced that it continues to maintain limited processing capabilities at its BRC refinery following the fire that occurred on June 9, 2008. Assessments are continuing to determine the extent of the damage on the Visbreaker unit.
The refinery is currently running unaffected units which include the Naphtha and Distillate Hydrotreaters, the Catalytic Reformer, the Isomerization unit and the LPG Recovery unit, which allow the refinery to produce gasoil, heating oil and gasoline components. All crude distillation has been suspended and is expected to be back up within a few weeks. Based on preliminary assessments, we currently expect to bring the refinery back to full operation by the end of July. Cash costs for repairs are not expected to be greater than $2 million.
Petroplus Holdings AG is the largest independent refiner and wholesaler of petroleum products in Europe. Petroplus focuses on refining and currently owns and operates seven 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 Petit Couronne refinery in Petit Couronne, France, the Cressier refinery in the canton of Neuchâtel, Switzerland, the Reichstett refinery in Alsace, France and the Teesside refinery in Teesside, United Kingdom. The refineries have a combined throughput capacity of approximately 864,000 bpd.