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Oil trader Gunvor buys refinery in Belgium

March 05/2012

(en.rian) -- One of the world's largest oil trading companies, Gunvor Group, owned by Russian businessman Gennady Timchenko, has bought the Petroplus oil refinery in Antwerp, Gunvor said on Friday.

"The parties plan to close the deal within six or eight weeks with the support of Belgium's state authorities," Gunvor said in a statement. The company declined to disclose financial details.

Netherlands-registered Gunvor plans to resume operations soon at the refinery, which halted last month due to financial difficulties at Petroplus. The facility has capacity to refine over 100,000 barrels of oil a day. Oil storage capacity amounts to 1.2 million cubic meters.
Author:Anna Larionova
Category:General News
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