Evidence?
23 replies (most recent on top)
Fix it or flip it brief.
- fawley now reduced to a supported site
- Per UK law when a major BU is sold the employees go with the sale, except special circumstances and expats would be easy to exempt from the requirement, so load up on expats so when the asset is sold the buyer is stuck with fewer legacy EM employees they probably didn’t want anyway
Where are the rumours coming from? Does a load of ex pats coming into positions in fawley not make any sale less likely?
Information I have is UK business is sold, similar to the France model for PJG. Announcement 4q25 for close in 2q26. It's a done deal, but no info on the buyer.
Rumor on Wall Street is that North Atlantic will also buy Fawley along with fuels/lubes distribution networks and stations in UK.
Fawley sale incoming in 4Q25. Hold tight.
It's also just cost over a billion with FAST and SLP. Getting rubbish assets up to a selling point then it's gone.
I heard it’s fetching over a billion.
@2ziy+1samUEpn Yep, and the sites seem to do a lot better after they're out of the EM 'family'. You do the math...
@1lxy+1samUEpn
Trafigura is in the consortium that is purchasing Fos refinery. They are also in a different consortium that purchased the Lukoil refinery in Priolo, Sicily (former ERG refinery). Apparently those bandits are interested in the assets majors don’t want anymore.
They’ve been wanting to unload Fawley for decades
When we can't even afford to keep wall tiles on the wall in washrooms.................it is for sale.
Fawley makes as much money in good times as Malaysia asset in Upstream, which we sold.
Just for context.
Fawley definitely on the market... Those considering retirement should jump now!
Evidence? How about the Century 21 sign out front or the ad in Craig’s List describing it as,
“Historic Refinery for sale. Handy man’s special requires TLC. Great opportunity to rebuild as you want, will need to bring your own talented employees. Would make a great museum piece. Price reduced for quick sale as owner is very motivated. Considering all offers.”
Industry rumour is sale to be announced in 2q24. Potential suiter is Trafigura again or Vitol. Inland takeoff aggrement until mid 2030s
Fawley is a dead man walking. And no, DW didn't start is career there, but the EMPS president did, as did also her predecessors. That won't be enough to save them.
I expect an official announcement solewhere in the next 12 months.
DW used to work there, therefore probably safe?
Europe is not a strategic location for the company anymore. I’m not surprised if we sell everything within this decade
Wouldn't be suprised if this happens. But a bit unlikely prior to completing the current projects.
If not sold surely it will be heavily revamped (aka downsized) post project.
Who is the rumoured buyer?
Wha
Yes