Spanish oil company Repsol YPF SA (REP) will halt work for an unspecified length of time at its 100,000 barrels-a-day capacity Cartagena refinery, a company official said Wednesday.
The company is taking the action due to tight refining margins, the official said.
Repsol is scaling down refining at the refinery in southern Spain, which mostly produces gasoline.
However, the company will go ahead with a EUR3.2 billion project to upgrade the refinery to boost its output of diesel and jet fuel.
Repsol shares fell 2.8% at EUR14.18 at 1211 GMT, despite an announcement of a potentially promising oil find in Brazil's prolific Santos Basin.