The Gunvor Group has acquired the Kuwait Petroleum Europoort refinery in Rotterdam, Netherlands.
The company announced the acquisition last Monday.
The refinery will be renamed Gunvor Petroleum Rotterdam and will be incorporated into Gunvor's European refining portfolio, which also includes facilities in Antwerp, Belgium, and Ingolstadt, Germany. Combined, the refineries will provide Gunvor with a total refining capacity of nearly 300,000 barrels per day. The company's European refinery workforce will also increase to 1,000 employees.
"We are pleased to welcome the Rotterdam facility into the Group," Gunvor Chief Investment Officer Gia Mai said. "The Rotterdam refinery will enhance Gunvor's existing refining operations, particularly through synergies with our Antwerp facility, while complementing our global trading activities."
Gunvor began in 2000 as a trading house for crude oil and products derived from oil. The company now controls interests in refining, mining, shipping, storage and oil pipelines in Africa, the Americas, the Middle East, Europe and Asia.