Petroplus French Refinery Halt May Be Site’s Death, CGT Says
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Petroplus Holdings AG’s refining halt at units in Normandy today may mark the plant’s end, a union said, shrinking the crude-processing industry in France that may have posted losses of 800 million euros ($1.04 billion) in 2011.
Europe’s largest independent refiner by capacity, unable to buy adequate oil because of a credit freeze, will halt refining at three of its five plants, including at Petit Couronne in northern France, Antwerp and Cressier in Belgium and in Switzerland, it said in a statement Dec. 30. The sites have a combined processing capacity of 337,300 barrels of crude a day.