Dutch firm to buy Wilhelmshaven refinery

By OGJ editors

A private Dutch company has agreed to buy the 260,000 b/d Wilhelmshaven refinery on Germany’s North Sea coast from ConocoPhillips for an undisclosed amount.

The buyer is Hestya Energy BV, Amsterdam, which says it focuses on the European midstream oil business and “is building a portfolio of high quality, strategic assets through the acquisition of existing facilities and investment in Greenfield developments.”

Hestya lists its shareholders as Riverstone Holdings LLC, a private equity firm, and AtlasInvest, a private investment company.

The deal includes tank farm and marine terminal.

ConocoPhillips last year canceled a major upgrade of the Wilhelmshaven refinery in line with plans to lower its refining holdings (OGJ, Aug. 2, 2010, Newsletter).

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...