Private Dutch company Hestya Energy BV said on Wednesday it has signed an agreement to purchase Wilhelmshaven oil refinery in Germany, put up for sale by U.S. group ConocoPhillips, Reuters reports..
ConocoPhillips said in July 2010 it would either sell the 260,000 barrels-a-day refinery or turn it into an oil distribution terminal as part of its strategy of cutting downstream operations and output has been stopped.
No price for the deal was given. A Hestya Energy spokesman said it was planned to resume refinery operations "as soon as possible" but no date was being given. The transaction is expected to close later this year, Hestya said.
ConocoPhillips said in July 2010 it would either sell the 260,000 barrels-a-day refinery or turn it into an oil distribution terminal as part of its strategy of cutting downstream operations and output has been stopped.
No price for the deal was given. A Hestya Energy spokesman said it was planned to resume refinery operations "as soon as possible" but no date was being given. The transaction is expected to close later this year, Hestya said.