International energy company ConocoPhillips is to close down its refinery in Wilhelmshaven, Germany, and convert it into an oil storage terminal.
The plant handled around 260,000 barrels of oil a day, in addition to 102,000 barrels of distillates and 36,000 barrels of petrol. From the 1 June 2011 the facility will operate as a storage terminal.
However Rich Johnson, a spokesperson for ConocoPhillips, explains that the company has ‘no plans to dismantle Wilhelmshaven’. ‘We are continuing to actively work on a sale of Wilhelmshaven,’ he adds.
It is thought an organisation from Saudi Arabia, along with German entrepreneur Carsten Hippenstiel, could put in an offer for the facility in order to process Saudi crude oil at the site.
The move will see the number of jobs at the facility slashed from 406 to 48. ‘By the end of the month we will begin serving notices to employees who will not be required to operate the terminal operations at the site,’ Johnson says.