Late July Europe update: Downstream news from Europe

France

Total will be hit with a one off tax on oil inventories imposed by the French government. This tax has been put in place to help raise 550 million Euros to help depleted government coffers, which is in turn hitting the French refining industry. Total have said that they will have to hand over between 40 and 160 million Euros to the government under the new tax.

The deadline for bidding on the Petit-Couronne refinery has been extended by a French court. Bidding has now been extended until 24^th August and there are reportedly two major companies bidding for the plant. A French court will make a final decision on the facility in early September. The refinery was taken offline after Petroplus went insolvent.

UK

Ensus have announced that they are looking to restart an ethanol refinery based in Wilton on Teeside, England by August. The 400 million ltr/y facility was taken offline 15 months ago due to economic instability. Since May Ensus have been carrying out maintenance work at the plant with the hope of a restart. After the plant is brought back online it should be running at full capacity by the end of September.

Protests have been staged once again by the trade union Unite at the Coryton refinery. The plant is to officially be closed and mass protests were held earlier this week. The closure of the refinery and its conversion in to an import terminal will result in the loss of 800 jobs. Whilst in operation the refinery supplied 20% of all fuel used in London and South East England.

Edited from various sources by Claira Lloyd.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/25072012/late_july_europe_update/