March 6, 2006 at 1:31 am #4238
Tuesday February 28, 6:06 pm ET
ConocoPhillips Co. on Tuesday afternoon said it has completed the purchase of a refinery – in Germany.
The integrated petroleum company’s acquisition from privately owned Louis Dreyfus Energy Holdings Ltd. gives Houston-based ConocoPhillips a 275,000 barrel-per-day refinery in the German city of Wilhelmshaven. Also included in the deal were a marine terminal, a tank farm, and rail and truck-loading
“We are pleased to have completed this transaction, and we look forward to the Wilhelmshaven refinery providing a foundation for strengthening ConocoPhillips’ ability to supply products to key export markets and local German customers, including being a valuable supply point for our network of JET gas stations,” said Jim Nokes, executive vice president, refining, marketing, supply and transportation facilities.
As was previously announced, ConocoPhillips will continue to work with the German authorities to secure the necessary support and permits to make further investments in the Wilhelmshaven refinery, including initial expenditures toward a deep conversion project and other capital improvements.
“We expect to begin a deep conversion project that will allow us to improve the Wilhelmshaven refinery to a high complexity refinery, resulting in expanded production of more valuable light end products such as gasoline and sulfur-free diesel,” said Mike Fretwell, president, international downstream.
For ConocoPhillips, the Wilhelmshaven refinery increases the company’s overall European refining capacity from about 372,000 barrels per day to approximately 647,000 barrels per day.
Adding the European refinery strengthens the ability of ConocoPhillips to supply products to key export markets and German customers. Terms of the Wilhelmshaven deal weren’t disclosed.
Excluding the refinery in Germany, ConocoPhillips as of Dec. 31 owned all or part of six refineries outside the United States. Refining and marketing in 2005 accounted for nearly a third of the Houston company’s total net income worldwide.
Published February 28, 2006 by the Houston Business Journal
March 6, 2006 at 1:41 am #7643
COP buys Wilhelmshaven and indicates a deep conversion project will begin – which might mean another coker??
Germany is home to 4 other coking refineries (BP at Lingren & Gelsenkirchen, OMV at Burghausen, and Mineraloe at Karlsrue – ExxonMobil shutdown the Ingolstadt fluid coker), so The Wilhelmshaven needs to play catch up to the complexity of its competitors, using its strength in the coking technology sector.
March 20, 2006 at 2:07 am #7635
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March 25, 2006 at 2:13 pm #7633
we are from RASCO company in Libya and we like to vist a refinery in Germany and qality control laboratory to know about crude oil type and removal of impurities in crude like sulfure for example. would you please help us and your advise regarding this matter.
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