© Reuters. FILE PHOTO: Equinor’s flag in Stavanger, Norway December 5, 2019. REUTERS/Ints Kalnins
OSLO (Reuters) -Norway’s Equinor said on Thursday it had agreed to sell its Danish Kalundborg refinery as well as an oil terminal to Klesch Group for an undisclosed sum.
Built in 1961 and acquired by Equinor in 1986, the facility can process 107,000 barrels a day of and condensate for gasoline, diesel, propane and , with annual capacity of 5.5 million tonnes of oil profucts, Equinor said.
“This transaction supports Equinor’s strategy to focus its portfolio around core areas,” said Irene Rummelhoff, head of the Norwegian firm’s Marketing, Midstream and Processing unit.
Equinor will now concentrate its refining business at Norway’s Mongstad, she added.
The company declined to reveal the value of the deal. Closing of the transaction depends on approval by Danish authorities, an Equinor spokesperson said.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.