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
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
