Petroplus is to sell its bankrupt oil refinery
One of the largest holding companies in Europe in the processing and selling of oil, which owns a network of refineries in Germany, France, Belgium, Britain and Switzerland, is forced to close three of its businesses. The reason is the bankruptcy of the holding at the end of last month.
In the near future Petroplus plans to sell the bankrupt factories, in particular, its German refinery. According to statistics, this plant used to produce about 5 billion tons of oil per year.
A potential buyer of the refinery is Rosneft which already possesses 50% of all the shares in another major refinery in Germany. Analysts warn that the purchase of the Petroplus refinery is a risky thing. Raw materials are expensive, and the income from the processing of petroleum products is low.
In Germany the company Rosneft currently has 11, 6% of the total volume of the refined petroleum per year. In case of acquisition of another refinery, the Russian company will be able to confidently assert the European oil market.
