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News	Kokel, Nicolas Gunvor Rotterdam 2024/11/26 10:51 AM Gunvor’s Rotterdam Oil Refinery Joins List of European Shutdowns View Main Message Credit: Gunvor, Rotterdam refinery By Jack Wittels and Alex Longley, November 22, 2024, Bloomberg Gunvor Group is temporarily halting its Rotterdam oil refinery because it’s not making enough money, the latest sign that the continent’s plants are struggling to compete with upstarts in other parts of the world. Effective Nov. 25, the so-called economic halt is due to a lack of prompt availability of commercially viable feedstock, the company said in a statement. Gunvor said it will “continue to monitor the situation and assess future resupply for the refinery in due course.” With a processing capacity of 75,000 barrels a day, the plant is relatively tiny. Still, it joins a growing list of European refineries with plans to either halt or downsize, including the Wesseling and Gelsenkirchen plants in Germany and the Grangemouth facility in Scotland. Europe’s refineries are under pressure from large, new plants, including in the Middle East and Africa, such as Nigeria’s giant new Dangote refinery. The rival fuelmakers can send what they make to Europe, and also compete for market share elsewhere in the world. #gunvor #refinery #europe #rotterdam #wesseling #gelsenkirchen #grangemounth #petroineos #lyondellbasell #ineos #nigeria #dangote #crudeoil #bp
Finance	Kokel, Nicolas Petroineos Trading 2024/10/01 11:57 AM Petroineos Trading Limited added. View Main Message Petroineos Trading Limited has been added and parent companies identified. #petroineos #trading #fuels #ineos #petrochina
Finance	Kokel, Nicolas Petroineos Fuels Ltd 2024/10/01 11:31 AM Petroineos Fuels Ltd. added. View Main Message Petroineos Fuels Ltd. has been added and parent identified. #petroineos #fuels #ineos #petrochina #refining
News	Kokel, Nicolas Grangemouth 2024/09/15 07:53 PM Only Scottish oil refinery is confirmed to close next year View Main Message Petroineos, a Joint Venture between INEOS and PetroChina, has announced its intention to cease refinery operations at Grangemouth and transition to a finished fuels import terminal and distribution hub during the second quarter of 2025, subject to consultation with employees. Situated on the Firth of Forth on Scotland’s east coast, Grangemouth Refinery is the oldest of the six remaining refineries in the UK and the only refinery in Scotland. Grangemouth refining capacity stands at 150,000 barrels of crude oil per day. A spokesman for Petroineos said that in the last week, the refinery has lost around 500,000 US dollars (£381,000) per day, and absorbed total losses of 775 million US dollars (£590 million): “it is hard to conceive that any owner would be able or willing to sustain losses on this scale indefinitely and in the face of competitive pressure from newer, more modern facilities across Europe and elsewhere in the world” the spokesperson added. Other INEOS businesses at Grangemouth, namely INEOS O&P UK and INEOS FPS (Forties Pipeline System), will continue as normal delivering high quality services and products to customers and are largely unaffected by this change, Ineos stated. #ineos #petroineos #refinery #grangemouth #crudeoil Sources: INEOS announcement, 12 Sep 2024 \| The Westmorland Gazette, 13 Sep 2024