Petroplus Refinery Administrators Get Offers From Murzuk, Netoil

Administrators of Petroplus Holding AG’s French Petit-Couronne refinery received bids from Murzuk Oil and Netoil Inc. and will submit them to a court in Rouen that will decide whether to accept one or liquidate the plant.

The court will rule on the formal bids for the Normandy site in coming days, administrators said today in a statement. Offers from Libya’s Murzuk and Netoil were rejected in the past.

The fate of the 154,000-barrel-a-day refinery has hung in the balance since Zug, Switzerland-based Petroplus filed for insolvency in January 2012. Administrators rejected five bids in February and began proceedings to fire workers and shut up shop.

A final decision has been repeatedly pushed back by the court, while French unions have fought to keep the plant open.

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