Antwerp refinery to be acquired by Gunvor
Trading company Gunvor, a large seller of Russian crudes, is to buy the Antwerp refinery from the administrators of Petroplus, which collapsed in January when lenders cut off its credit
Gunvor says it will re-start the refinery as soon as possible and will operate it on a long-term basis, as part of its strategy of diversifying from pure trading operations. It expects to complete the transaction by end-April.The acquisition of a facility in the Amsterdam-Rotterdam-Antwerp (ARA) refining and supply hub will provide Gunvor with a substantial and secure outlet for Russian crudes. Although the Antwerp refinery is relatively simple – its Nelson complexity rating, an industry measure of efficiency, is only 4.5 – the 107,500 barrels a day (b/d) facility has substantial hydro-desulphurisation capacity. This allows it to process high-sulphur crudes, such as Russia’s Urals. The facil
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
