Final negotiations underway for Kuwait Petroleum's purchase of KP Europoort refinery

Affiliates for Kuwait Petroleum International (KPI) and Gunvor Group have come to the last stage of negotiations regarding the sale of the KP Europoort refinery in Rotterdam, The Netherlands.

The transaction is still contingent upon regulatory approval and required employee consultation processes.

Should the sale go through, the refinery will continue to comply with Gunvor's integration and optimization strategies.

The sale is the culmination of a lengthy search for an appropriate buyer by KPI. KP Europoort refinery's strategies were re-evaluated, and company representatives were charged with finding a reliable buyer that had financial stability and experience in the industry.

Gunvor is an independent commodities trading company that successfully purchased and operated refineries in Antwerp, Belgium and Ingolstadt, Germany in 2012.