Eni Partially Shuts Down Gela Refinery For 1 Year On Low Margins

Eni Partially Shuts Down Gela Refinery For 1 Year On Low Margins
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Τρι, 17 Απριλίου 2012 - 18:04
Eni SpA (E), Italy's biggest energy company by market value, said Tuesday it partially shut down the Sicilian refinery of Gela for a year as supply of refined products outstrips demand, hitting margins.
Eni SpA (E), Italy 's biggest energy company by market value, said Tuesday it partially shut down the Sicilian refinery of Gela for a year as supply of refined products outstrips demand, hitting margins.

The Rome-based company said it will shut down the operations refining foreign and residual crude, while those for Italian oil will continue to work. Around 500 workers at the plant, which has a daily refinery capacity of about 100,000 barrels, will be involved, it added.

The company said it informed labor unions of the decision.

Eni also confirmed that the 80,000 barrel-a-day
Venice refinery will restart May 2 after a shut down lasting six months that was in response to low demand.

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