Heide refinery
At the beginning of this week, Klesch & Company, a London based private equity fund, became the first of its kind to buy a refinery in the European refining sector.
Klesch are purchasing the Heide refinery, associated chemicals, bitumen and distribution infrastructure as well as related marketing businesses and the deal is expected to be finalised before the end of the year. The facility has the capacity to process 4.5 million tpy of crude.
Essar deal
Earlier this week Royal Dutch Shell were in non-exclusive talks with Essar as the company were looking to buy two of Shell’s European refineries, namely the Stanlow facility, UK and Harbarg facility, Germany. However, it has now been reported that Essar are no longer interested in purchasing the two facilities and Royal Dutch Shell will keep the refineries on the market.