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Shell, others to turn U.K. refinery into terminal

 June 26, 2012, 1:27 p.m. EDT

Shell, others to turn U.K. refinery into terminal

By Konstantin Rozhnov

Royal Dutch Shell PLC RDS.A +0.77% , Royal Vopak NV and Greenergy Ltd. have agreed to buy the majority of the assets of the Petroplus Holdings AG’s Coryton refinery in England to turn it into an import and distribution terminal to be managed by Vopak, the administrator of Petroplus’s U.K. subsidiaries, the companies and the U.K. government said Tuesday.

The sale will be completed within several months, once the current refinery closure process has been concluded, PricewaterhouseCoopers, the administrator, said in a statement.

There is no change to the redundancy programme announced earlier in June, with 180 jobs to be cut by the end of June and further redundancies anticipated from late July onwards as the closure progresses, PWC said.

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