Tamoil SA is considering the suspension of its refining operations in Collombey

abarrelfullabarrelfull wrote on 15 Jan 2015 07:31
Tags: europe refinery switzerland tamoil top

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In recent years, the Swiss refining market, as the European refining industry, suffered severe market pressure due to increasing imports of refined petroleum products, the rapid decline demand for fuel and increased costs of regulation, leading Collombey refinery and Tamoil SA to record significant losses during this period.

Nuri Rifaat, the managing director of Tamoil SA, said: "Tamoil has studied many alternatives for the refinery. Since 2000, we have invested more than 700 million Swiss francs to increase the competitiveness of the refinery and improve economic and environmental performance. Despite our efforts, we believe that further refining operations in Collombey is not viable at this time. " It is difficult to predict as is the duration of the interruption. We will closely follow the development of markets to decide definitively on the future of the refinery.

In accordance with the Group's strategy, Tamoil SA plans to maintain its activities in the retail and wholesale in Switzerland where it has today ' hui a network of 300 service stations, a sales volume estimated at about 2.3 million tonnes of petroleum products, an independent network of regional distributors, 12 warehouses with a total storage capacity 1.3 million m3.

The company remains fully committed to its employees, determined to serve its customers, partners and other stakeholders in order to maintain a strong and active presence in Switzerland. The history of the operations of the refinery in Collombey is long and illustrious; the site was producing almost 20% of the demand for refined products in Switzerland. We are very proud and grateful for the exceptional efforts and outstanding performance of our employees who have demonstrated a strong commitment to the refinery to operate safely and reliably and efficiently over the years.

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