Equinor to sell Kalundborg refinery to Klesch Group

10 Jun 2021

London (Quantum Commodity Intelligence) - Equinor has agreed to sell some of its assets in Denmark, the Kalundborg refinery as well as the oil terminal Hedehusene, to the Klesch Group for an undisclosed sum, the Norwegian company announced Thursday.

But the deal will not involve Danske Commodities, the energy trading company in Demark, which Equinor bought in 2019.

Equinor will continue to focus on developing its 200,000 b/d Mongstad refinery, the company added, which a recent internal report found had been seeping oil into the ground for several years.   

Klesch Group subsidiary Klesch Petroleum owns and operates the 90,000 b/d Heide refinery in Germany, which was bought from Shell in 2020.

Kalundborg can process 107,000 barrels a day of crude oil and condensate for gasoline, diesel, propane and heating oil.

Annual production capacity is up to 5.5 million mt of oil products.