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Shell Says Restart of Europe's Largest Refinery is at Least 2 Weeks Away

Reuters, August 3, 2017
Reuters

Royal Dutch Shell said on Tuesday the earliest restart expected for Europe's largest oil refinery is the second half of August. Shell shut most units at the 404,000-barrels-per-day (bpd) Pernis refinery in the Netherlands following a power outage caused by a fire on the evening of July 29.

"We expect to restart our operations at the earliest in the second half of August," a spokesman said in an email. "We regret the impact this may cause for our customers, and we are doing everything we can to minimize impact."

Shell suspended loadings of oil products from the refinery after the fire, and reported a hydrogen fluoride leak on Monday evening.

"The damage in the power station must be repaired before the refinery can be rebooted step by step," Shell said in a statement.

The issue is holding down crude futures, which extended losses on Tuesday as the outage of a large Atlantic Basin oil consumer compounded worries about a global glut.

"It's rather a cascade of bearish news," Commerzbank analyst Carsten Fritsch told the Reuters Global Oil Forum. "The news about the prolonged refinery outage was probably the straw that broke the camel's back."

 


(Reporting by Libby George; Additional reporting by Devika Krishna Kumar in New York and Ron Bousso in London,; Editing by Dale Hudson and Louise Heavens)

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