London-The US’ ConocoPhillips has abandoned plans to upgrade its 260,000 b/d Wilhelmshaven refinery in northern Germany and is now considering selling or closing the plant and operating it as a terminal, the company said July 22. Wilhelmshaven, one of the least complex refineries in northwest Europe, has been mothballed because of poor margins since October last year, and now seems to have fallen victim to cost-cutting by its owner and the generally weak outlook for European refining.
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