BP may throw financial lifeline to Petroplus - report
1/16/2012 12:00:00 AM
BP is considering offering financial assistance to struggling independent oil refiner Petroplus Holdings, the London-based Sunday Times reported, without citing sources.
Petroplus recently said its lenders had agreed to provide temporary financing, which is required to operate two of its five refineries, and "meet critical expenses."
The refiner had lost access to all its credit lines, forcing it to shut down the remaining three refineries.
Petroplus has kept its plant at Coryton, Essex operating.
BP, which sold the plant to Petroplus in 2006, remains the company's largest customer, the Sunday Times said.
Neither BP nor Petroplus were available for immediate comment.
Dow Jones Newswires
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