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England, UK: Petroplus Needs to Raise €760m to Keep Essex Refinery Operating

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The administrators of insolvent Petroplus will need to raise around €760m if they want to keep running the company's refinery at Coryton, Essex, they said in a proposal to creditors on Tuesday. The administrators, Steven Pearson and Stephen Oldfield, from PriceWaterhouseCoopers, will have to sell or shut down the refinery if they cannot procure refinancing. 

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Total to Launch F1 Ad Campaign

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Total will launch a new advertising campaign to coincide with the beginning of the new Formula 1 season, the group has confirmed. The campaign, which Total says will be run in its domestic French market and worldwide, will see the company promote the Lotus F1 team, and launch Facebook, Twitter, YouTube pages, as well as advertising on the ESPN and Abu Dhabi Sport television networks to promote its involvement. The group has also struck a deal with the International Herald Tribune and will place adverts on public transport vehicles in a host of targeted race cities including Singapore, Abu Dhabi and Kuala Lumpur. 

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England, UK: Murco Petroleum Announces New Team Members

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Murco Petroleum has announced that four executives have been promoted to senior positions within the organisation’s retail operations. The company has named Jamie Goodfellow (pictured) as its new Retail Marketing Director, Gary Pearce as General Manager for Non Fuel, Amalan Poopalasingham as Network Manager for Shops and Paul Almond as Dealer Sales Manager.

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Belgium: Guvnor Purchases Petroplus Antwerp Refinery

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Independent commodity trading company Gunvor has purchased Petroplus' Antwerp refinery, adding to its scheme of vertical integration. The transaction is subject to the approval of Belgian authorities, after which Gunvor says it will restart production as soon as possible. The refinery, which closed in early February after Petroplus filed for bankruptcy protection, is capable of processing over 100,000 bpd per day and has a storage capacity of more than 1.2m cubic metres. 

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