European downstream news
Belarus
The Belarusian government are looking to see up to US$ 12.5 billion of its assets over the next five years. Due to this, it has been announced by the country’s Central Asian ambassador that Kazakhstan are seeking to make bids for stakes in refineries in the country.
Germany
After announcements that Petroplus had become insolvent, the company put many of its facilities up for sale. It has now been reported that there are several parties interested in purchasing the company’s German plant. The facility has a high complexity rating and a processing capacity of 110 000 bpd.
Russia
Gazprom Neft has announced plans to invest 70 million Euros in its petrochemicals subsidiary. The company will form an alliance with Sibur to allow a more profitable return from the petrochemicals market. So far, the venture has invested in a petrochemicals unit in a Moscow refinery.
It has been reported that Igor Yusofov, a former Russian energy minister who now sits on the board of directors of Gazprom is intending to bid on three of Petroplus’ refineries. Mr Yusofov is interested in the Coryton, UK, Cressier, Switzerland and Ingolstadt, Germany facilities.
Edited from various sources by Claira Lloyd.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/03042012/european_downstream_news/
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