Total inks deal to shed UK refinery, downstream assets

摘要

Total SE has agreed to sell its UK downstream businesses, including subsidiary Total Lindsey Oil Refinery Ltd's 109,000-b/d refinery in North Killinghome, Immingham, Lincolnshire, and associated logistics assets-to Prax Group (also known as State Oil Ltd), a London-based global independent trading, storage, distribution, and retail firm. The transaction is scheduled to close by end-2020, once conditions of the sale have been satisfied, Total said on 27 Jul 2020. In separate 27 Jul 2020 releases, Prax Group and Total UK Ltd said the sale agreement involves all activities of Total Downstream UK Ltd, which alongside the Lindsey refinery, also includes the Finaline pipeline and Killingholme loading terminal, together with Total's shares in the following joint venture operations: Hertfordshire Oil Storage Ltd, 60%; Associated Petroleum Terminals Ltd, 50%; Crude Oil Terminals Ltd, 50%; Humber Oil Terminals Trustee Ltd, 50%; and Warwickshire Oil Storage Ltd, 50%.