A Barrel Fulll Archive

July 27, 2020 Total has signed an agreement to sell the Lindsey refinery and its associated logistic assets, as well as all of the related rights and obligations, to the Prax Group. Located in Immingham (Lincolnshire) in England, the Lindsey refinery has an annual production capacity of 5.4 million tons. This acquisition will make Prax – an independent British group specialising in the trade and sale of oil products and in possession of a growing network of 150 service stations and numerous supply chain assets – more integrated and competitive in the United Kingdom and will secure its local supply. “This transaction is in line with our forward-looking strategy for Total’s European refining base, which involves focusing our investments on integrated refining and petrochemical platforms. Since the sale of our British retail network in 2011, the Lindsey refinery hasn’t been part of Total’s downstream system, it will be put to better use within the Prax Group; an independent player with a

 July 23, 2019 JXTG Nippon Oil & Energy Corporation (president: Katsuyuki Ota; “JXTG”) has made a decision to acquire the [http://www.abarrelfull.co.uk/Osaka_Refinery Osaka refinery] (refinery manager: Hideaki Tanaka) currently operated by Osaka International Refining Company, Limited (president: Yoshiaki Takeshita; “OIREC”), terminate operation of its refinery functions and restructure it as an asphalt-fueled electric power facility. This change is expected to take place in October 2020. OIREC is currently operated through a joint venture between JXTG and PetroChina International (Japan) Co., Ltd. (president: Wan Junyong; “PCJP”), a wholly owned subsidiary of PetroChina International Co., Ltd. (executive director: Tian Jinghui; “PCI”). Amid the challenging environment of the petroleum oil industry, with structural domestic demand decline and severe competition in Asia, JXTG has been considering a number of options for the optimization of the manufacturing and supply network of its