Oil trader Gunvor Group will buy the 107,500-barrel-a-day Antwerp refinery in Belgium from insolvent Swiss oil refiner Petroplus Holdings and plans to restart the plant as soon as possible.
Gunvor, which is registered in Nicosia, Cyprus, expects to complete the deal in six to eight weeks, the company said Friday, without disclosing financial details. All of the plant's staff will be retained, Gunvor said.
Torbjorn Tornqvist, Gunvor's chairman and chief executive, said in a statement that the refinery will be "a significant asset for the group as we look to expand our presence and trading activities in the Amsterdam-Rotterdam-Antwerp region."
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
